We could be getting close. Activity remained tempered on fir plywood as mills struggle to maintain order files. Mills have been open to minor counters, but will not look at large deducts due to already cheap prices. Expect a flat to down market for the next one to two weeks. There is not a lot of downside risk left in this market.
Prices are low while the market for treated sales is coming to a season slowdown.
Studs were notably stronger this week, after being largely overlooked in last week's rally. We look for the upward trend to continue as mills hint about extended winter slowdowns and shut-downs. The market was strong at the start of the week but slowed dramatically by week's end. Retailers pulled back as soon as the mills started raising prices and extending order files. The mills must now rely on order files, as retailers will once again play the waiting game.