WOOD - Lumber expert: Price bounce likely in next two or three weeks

Taiyou Nomachi/DigitalVision via Getty Images Kyle Little, COO of Sherwood Lumber Corp., said Thursday that he expects a bounce in lumber prices in the next two or three weeks, as the market responds to normal seasonal pressures. Little told CNBC that even with the extreme volatility of the last several months, lumber remains a seasonal commodity. The recent decline in prices has come during a time of seasonal weakness, he explained. If typical patterns hold, lumber prices should see "measured" buying interest in the near term, Little said, as buyers need to rebuild inventories. For ETFs that could see action in response to changes in lumber prices, check out the SPDR Homebuilders ETF (XHB), iShares U.S. Home Construction ETF (ITB), iShares S&P Global Timber & Forestry Index ETF (WOOD), Invesco Exchange-Traded Fund Trust II - Invesco MSCI Global Timber ETF (CUT) and Direxion Daily Homebuilders & Supplies Bull 3x Shares

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Lumber expert: Price bounce likely in next two or three weeks