Traders pushed lumber prices to a 19-month high on Wednesday, Oct 31, as they positioned themselves for a potential spike in demand as Hurricane Sandy recovery efforts come into play, according to an article on ETF Trends.
January lumber futures added more than 3 percent, ending Thursday’s trading session at $331.1. Many observers expect demand to increase over the next couple of months, as projected home repairs could to extend well into 2013, the article said.
While they can’t invest in lumber futures with ETFs directly, investors can use funds like the Guggenheim Timber ETF (NYSEArca: CUT) and the res S&P Global Timber & Forestry Index Fund (NYSEArca: WOOD) to gain exposure to the timber and forestry industry and cash in on lumber’s rising price, ETF Trends says.
For the full story, head over to ETFtrends.com.