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Lumber Is Liquidating

The most economically-sensitive commodity is plunging once again. Lumber prices have cratered today to their lowest since June 2013, seemingly tracking the collapse in US Macro data over the last 2 months. First it was Lumber Liquidators, and now the underlying is seeing the biggest weekly drop in six months (and down 5 weeks in a row). As a reminder, the last time lumber and stocks diverged like this... it did not end well...

 

First it was Lumber Liquidators...

 

Timberrrr.....

 

Deja vu...

 

Charts: Bloomberg