The accompanying table [click to enlarge or download] includes a year-to-date analysis for near-month CME Random Length Lumber Futures (LB), Claymore/Clear Global Timber ETF (CUT), iShares S&P Global Timber & Forestry ETF (WOOD), and the S&P 500 ETF (SPY). The price of lumber has declined the least of all four with a YTD loss of about 33% versus a 46.8% loss for WOOD, a 57.7% loss for CUT, and a loss of 42.8% for SPY.
Given the low correlation of timber to other asset classes and two existing company-based ETFs, investors may be interested in a new idea for a commodity pool fund which tracks the global price of lumber and wood pulp. A new commodity pool fund could be structured as follows to trade near-month futures contracts (or the closest available month to the near-month) for lumber (Lumber futures will account for 67 – 75% of the portfolio based on higher average trading volumes than pulp) and wood pulp (Wood Pulp future
International Paper Company operates as a paper and packaging company. Its Printing Papers segment produces printing and writing papers, including uncoated and coated papers, market pulp, and uncoated bristols. The company's Industrial Packaging segment manufactures containerboards. Its Consumer Packaging segment produces coated paperboard for various packaging and commercial printing end uses. The company's Distribution segment provides services and products to the commercial printer with printing papers and graphic art supplies; building services; away-from-home markets with facility supp...
Will beat 4Q earnings Feb 7, '08 from weak ened dollar and growing global demand for pulp production in emerging markets. Trading at 5 P/E doesn't hurt either. Not everyone in the world enjoys email and internet access just yet!
The accompanying table [click to enlarge or download] includes a year-to-date analysis for near-month CME Random Length Lumber Futures (LB), Claymore/Clear Global Timber ETF (CUT), iShares S&P Global Timber & Forestry ETF (WOOD), and the S&P 500 ETF (SPY). The price of lumber has declined the least of all four with a YTD loss of about 33% versus a 46.8% loss for WOOD, a 57.7% loss for CUT, and a loss of 42.8% for SPY. Over the past 12 years, near-month CME Lumber Futures have traded within a range of about $200-$450, which places the current price at key support levels.
The accompanying table [click to enlarge or download] includes a year-to-date analysis for near-month CME Random Length Lumber Futures (LB), Claymore/Clear Global Timber ETF (CUT), iShares S&P Global Timber & Forestry ETF (WOOD), and the S&P 500 ETF (SPY). The price of lumber has declined the least of all four with a YTD loss of about 33% versus a 46.8% loss for WOOD, a 57.7% loss for CUT, and a loss of 42.8% for SPY. Over the past 12 years, near-month CME Lumber Futures have traded within a range of about $200-$450, which places the current price at key support levels.
Allegheny Technologies Incorporated (ATI), Ball Corporation (BLL), Bemis Company, Inc. (BMS), Titanium Metals Corporation (TIE) printed a 20-day high. Alcoa Inc. (AA), PPG Industries, Inc. (PPG), Vulcan Materials Company (VMC) printed 5 consecutive up closes. Sealed Air Corp. (SEE) and International Paper Company (IP) are very close to their 20-day low. XLB has printed a slight positive divergence of MACD and has developed a rebound to test the 20-day moving average.
In the Figure you can see a summary of the trend conditions of the Index stocks. I used the 20, 50, 100 and 200 days movin...
Allegheny Technologies Incorporated (ATI), Ball Corporation (BLL), Bemis Company, Inc. (BMS), Titanium Metals Corporation (TIE) printed a 20-day high. Alcoa Inc. (AA), PPG Industries, Inc. (PPG), Vulcan Materials Company (VMC) printed 5 consecutive up closes. Sealed Air Corp. (SEE) and International Paper Company (IP) are very close to their 20-day low. XLB has printed a slight positive divergence of MACD and has developed a rebound to test the 20-day moving average.
In the Figure you can see a summary of the trend conditions of the Index stocks. I used the 20, 50, 100 and 200 days movin...
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