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sdholloway56
Senior Advisor

lumber chart

Lumber (Globex) Weekly Commodity Futures Price Chart : CME (tradingcharts.com)

Given up about half the gain in 5 weeks. Also a pretty steep inversion in the market but I don't know how long it takes to hit the retail level- when everybody who can has unloaded their high priced inventory, I guess. 

Nothing monetary in this except for the modest role super low mortgage rates played in a weird housing mania that has other factors behind it, too. But definitely not a Quantity of Money thingy.

Also, the Dollar and long rates say not to worry about that death of the dollar, commodity supercycle hyperinflation thing just yet.

US Dollar Index Intraday Commodity Futures Price Chart: Sept. 2021 : ICE Futures (tradingcharts.com)

5 Replies
sdholloway56
Senior Advisor

Re: lumber chart

The lumber price spike was more a matter of supply than demand, although it was both.

Everybody mis-read the economic situation and cut production and inventories- and boy did they misread it.

Part of the conclusion is that despite all the hollerin' from all directions in this very polarized and disorienting time, the US' response to the pandemic was a lot better than doing nothing. Although it would be a good thing to have a sober assessment about what worked and what didn't- not something that's likely to happen in this environment (that's how civilizations die).

And probably mostly by chance, lumber execs are laughing all the way to the bank and folks like the auto execs who gave up their place in line with the chip suppliers aren't suffering any personal consequences either.

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sdholloway56
Senior Advisor

Re: lumber chart

The same goes for the health response. 

That conversation is also the very hottest of messes- another sign of a collapsing civilization.

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sdholloway56
Senior Advisor

Re: lumber chart

BTW, at this moment there are Russian and CCP agents or inspired actors over at Forum attempting to undermine our society.

And just think what a tiny corner of the web that is.

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k-289
Senior Advisor

Re: lumber chart

Business friend  explained,  it  was  the  first  time  in  months,  that  a  lumber  supplier  in  the  south ''' called  him ''',  to  see  if  he  needed  some  inventory -  -  - 

Shoe  shine  guy  stories ,  are  appearing  in  several  area's  -  hmmm  - - - 

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sdholloway56
Senior Advisor

Re: lumber chart

Sorta like the guys up in ND who got suspicious when everybody started calling them to ask about that bin full of $10 HRS they heard they had?

Only in reverse.

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