Lumber and hardware purchases declined through most of September and October as steep drops in pricing pushed many buyers to the sidelines as they worked through their previous purchases. After close to 10 weeks of limited take away in the market, buyers finally stepped into the market in early November to cover some needs, putting a temporary bottom into the market. Some could argue buyers are more comfortable at these levels compared to previous inflated numbers but the general feel is that buyers had to jump in to replenish inventory levels for the short term. These levels will help average down previous high priced material. A seasonal run with milder weather has help maintain stronger business in the field. The belief is that pricing will remain flat to slightly down after the Holiday.
LMC, 2020, 'East/West Lumber, What's New', The Bulletin, pp. 12