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(March 8, 2002) LUMBER: Lumber prices rallied sharply to new contract highs but set back on profittaking. May contract high was $326.90 but closed at $322 up $4.50 per thousand board feet. Once again the positive economic data prompted short covering and new buying. We are still on the sidelines but with eye towards the short side should the U.S. economic or housing picture change from its current "optimistic" stance.

John L. Caiazzo
www.acuvest.com
E-mail: futures@acuvest.com

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