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U.S. lumber and panel market reports

August 27, 2007

U.S.: Lumber and panel market report ---- Update Weekly

Framing lumber sales quieted as buyers backed away on the heels of last week's faster pace. Producers and secondaries were frustrated with the lack of follow-through, but not surprised given buyers' penchant for caution amid troubling times in the housing sector. Even so, traders noted that the pullback in sales from last week was stark, with a pointed resistance among many customers to even discuss new orders. Producers peeled back prices selectively, and unevenly.

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Panel market

Structural panel sales lost momentum late in the week. After posting scattered upward adjustments in early trading, OSB prices flattened. "Dull" and "dead" were terms frequently used to describe activity during the second half of the week. In Southern Pine plywood, brisk sales early encouraged some producers to raise prices, but sales cooled as the week progressed. A few western Fir plywood mills with sheathing available for next week lowered quotes modestly, and then listened for counters.

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