Home | Business News | Browse by Publication | T | The Register-Guard (Eugene, OR)

Currency boost.

Publication: The Register-Guard (Eugene, OR)
Publication Date: 29-JUN-03 		Format: Online - approximately 1120 words
Delivery: Immediate Online Access
Full Article Title: Currency boost.(Business)(Weak dollar stimulates profits at U.S. lumber mills)

Article Excerpt
Byline: Joe Harwood The Register-Guard

Long accustomed to economic gloom, Oregon's lumber mill owners are savoring some unexpected good times.

Prices paid for lumber from mills in Oregon and nationwide are on the upswing this month, rallying 12 percent since mid-May amid reduced lumber imports from Canada and Europe and a strong housing market driven by 40-year low interest rates.

After enduring prices at decade-long lows for most of the year despite the healthy residential construction market, U.S. mill owners are welcoming the price increase.

"Since about June 1, the market has made a pretty good turnaround," said Rick Re, general manager at Seneca Sawmill in Eugene. "That 10 or 12 percent is huge for us."

A combination of factors is propelling the run-up: a weakening U.S. dollar that discourages imports; widespread U.S. production curtailments and sawmill closures; and a 27 percent tariff slapped on Canadian lumber by the Bush administration 13 months ago.

The declining value of the U.S. dollar relative to the Canadian dollar and...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from The Register-Guard (Eugene, OR)
Eugene officer pleads not guilty.(Crime)(Lara is arraigned on sex abus..., August 08, 2003
FISH PROJECTS SWIM AFTER SCARCE FUNDS.(Environment)(Rising costs at Co..., August 08, 2003
School scores continue to improve.(Schools)(But Oregon reports little ..., August 08, 2003
Letters in the Editor's Mailbag.(Letters)(Letter to the Editor), August 08, 2003
California carnival.(Editorials)(Recall election gets stranger by the ..., August 08, 2003

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.