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-0.000133994372236435 0.000267988744472679 0.000133994372236244 -0.000937960605654661 0.00147393809460002 0.00629773549510919 0.00723569610076366 0.00710170172852723
Stock impact report

Commodities Corner: Lumber’s epic gain may soon give way to a bear-market correction [MarketWatch]

D.R. Horton, Inc. (DHI) 
Last d.r. horton, inc. earnings: 4/28 06:30 am Check Earnings Report
US:NYSE Investor Relations: investor.drhorton.com
Company Research Source: MarketWatch
Lumber’s epic gain may soon give way to a bear-market correction Lumber prices have made quite a comeback this year, climbing by 25% in January and nearly erasing the decline suffered in 2018, as the market gets a boost in demand ahead of the spring building season. Looking ahead, however, analysts urge caution. The lumber market looks overbought and bears some similarities with last year, when prices rose to an all-time high and then dropped. “We can see continued price appreciation, but in order to be sustainable, it must have the underlying support of real demand in the form of housing starts,” says Greg Kuta, an analyst and president of Westline Capital Strategies. Lumber futures LBH9, -1.04% settled at $424.50 per 1,000 board feet on Thursday. They rose 25% in January and, as of Thursday, trade nearly 28% higher year to date. The SPDR S&P Homebuilders exchange-traded fund XHB, -0.58% has seen a more modest gain of 14% for the year so far. “The market has a seasonal tendency Show less Read more
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