A sales pickup in advance of the holiday weekend in the U.S. led the framing lumber market to its first uptick in 11 weeks. Southern Pine bucked the broader trend; while sales volumes improved mildly, prices were flat or down modestly. Several factors contributed to the pickup, but an initial catalyst by some accounts was a limit-up gain in futures on Wednesday. This prompted a pre-holiday round of short covering by wholesalers. Light inventories among some distributors and retailers, along with a perception of minimal downside risk, also prompted buyers to replenish.

	Week May 27	Week May 20	Year Ago 2010
Random Lengths Framing Lumber Composite Price*	$259	$257	$305
KD Western S-P-F #2&Btr 2x4 R/L Mill Price	227	218	242
KD Eastern S-P-F #1&2 2x4 R/L, delivered Great Lakes	326	324	340
Green Douglas Fir Std&Btr 2x4 R/L (Portland)	245	237	240
Southern Pine (Westside) #2 2x4 R/L	268	270	363
KD Coast Hem-Fir Std&Btr 2x4 R/L	263	260	270
Ponderosa Pine (Inland) #2&Btr 1x12 R/L	625	635	705
* Weighted average of 15 key items

Demand for structural panels remained subdued. Most OSB prices were on a firm footing prior to the holiday weekend in the U.S. However, this was mostly due to drawn-down production rather than any uptick in sales. Southern Pine plywood producers offered modest price concessions on rated sheathing to clean up accumulations. The discounts generated moderate interest and were gone for the most part by Friday. The announcement of a major curtailment on Monday failed to stop erosion in prices of western Fir sheathing and underlayment.

(f.o.b. mill prices)	Week May 27	Week May 20	Year Ago 2010
Random Lengths Structural Panel Composite Price*	$274	$276	$367
Southern (west-east) 15/32-inch 3-ply exterior sheathing plywood	288-305	290-307	370-380
Southern (west-east) 15/32-inch 4-ply exterior sheathing plywood	282-310	290-310	365-370
Western 1/2-inch 4-ply exterior sheathing plywood	289	295	400
North Central 7/16-inch Oriented Strand Board	170	165	245
*Weighted average of 11 key items

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