Experts are like baseball players. If they are correct 30% of the time, people see them as the people to follow. Too bad they don't have their own baseball-type cards.
Here are what some of those experts are saying this week about the lumber futures:
- Lumber prices could be due for a sharp fall when supply ramps up, according to Capital Economics commodities analyst Samuel Berman.
- “All told, we forecast that the price of U.S. lumber will plummet to $600 and $550 per 1,000 broad feet by end-2021 and end-2022, respectively, as domestic supply surges and imports remain strong,” Burman wrote in a note, according to Bloomberg.
- But RBC analyst Paul Quinn is looking for futures prices to remain above $1,000 until at least late July.
- Overall, "market participants continue to have a favorable outlook for pricing levels given strong demand, low inventories, and the inability for supply to catch-up in the near-term," he wrote, Bloomberg reported.
It really doesn't matter if they are correct or not. If they bat .300 overall, we'll keep listening to them. Whose cards do you collect?
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