Lumber prices drop as U.S. home market stalls

The Vancouver Sun reports:

Growing signs of an end to the U.S. housing boom have depressed lumber prices to the point that one industry analyst says Canadian sawmillers are now better off paying duties to the U.S. rather than exporting under the proposed softwood lumber agreement.

A signal that the demand for housing maybe drying up.Check out this daily chart of July lumber futures.Here's the monthly chart for the bigger multi-year picture.Lumber is clearly off the high.