Lumber Falls to Lowest Level in Seven Months, a Negative for Stocks

Lumber was the weakest of the major commodities today as it dropped 1.8% to a seven month low and decisively below pretty good support at around $330. Lumber is now trading about 14% off its December peak, which is slightly worrying. We've highlighted here, here, and here the recent weakness in lumber and what it could mean for stocks if previous trends hold.