By Kelsey Gee
CHICAGO--U.S. lumber futures settle narrowly lower for a third consecutive session Tuesday, falling to a two-week low as traders watched for signs of demand in the weeks ahead.
January lumber futures fell $1.00, or 0.3%, to $335.70 per 1,000 board feet on the Chicago Mercantile Exchange. Lumber for March slid $1.70 to $332.70 per 1,000 board feet.
Market watchers noted that, following a flurry of orders placed ahead of the Christmas holiday for wood to be shipped in January, trading activity remains light, as investors search for signs of fresh demand.
The January contract remains in-line with prices offered in the cash markets, ranging from $335 and $345 per 1,000 board feet, traders said, keeping futures in a narrow range. Cash and futures typically converge near the front-month contract's expiration, which takes place in just a few weeks.
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(END) Dow Jones Newswires
December 30, 2014 15:43 ET (20:43 GMT)
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