LUMBER FUTURES TUMBLE SHARPLY EARLY
Lumber futures fell for losses of as
much as 3.50 dlrs per tbf, basis May, after starting 0.80 lower
to 0.10 higher.
    Lack of carryover demand and pressure associated with the
lower trend to financial futures early touched off some stop
loss orders. Futures fell to near technical support before
recovering slightly, traders said.
    Some pressure also stemmed from a quiet cash market and
erroding cash prices, they said.
    Commission houses and locals sold on the break and offset
scale-down buying by GNP, they added.
 Reuter
