Last Week Copper Stole the Show, This Week it's Lumber's Turn

Copper made headlines last week as it plowed through multiple support areas to levels not seen since mid-2010. That move gave market watchers, including ourselves, pause since copper prices are an important leading economic indicator. Not to be outdone by copper, lumber prices are currently in free fall and are breaking important support levels as they head toward a 10% YTD decline. Lumber, like copper, is an important leading economic indicator since one of the primary uses of lumber is home construction.