"Insane" is the right word for hype. Now 21% down. I assume you changed after posting this immediately from long to short - did you?
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I can only pass on the comments from the GM who I have dealt with for over 20 years - one of those straight up individuals and not one to suffer fools easily.
They allow the trees to grow not to be harvested in NZ but to be exported later when prices are right.
Asked him why NZ exports so much of our logs, he has a simple reply - what are NZ radiata pine good for? They are not high value timber which can be used for furniture or flooring so further processing in NZ at our high costs simply do not make sense.
This is what happens when investments are made with short term horizons.
I was in Cambodia a few years ago and the government there was planting teak which takes 50 years to 75 years to reach maturity! Will never ever happen in NZ!
I agree with you about radiata being rubbish timber and would rather see a more visionary approach. But we in NZ aren’t real good at seeing past a quick buck which is why we sell our fruit trees to places like South America that will never make our locally produced fruit redundant.
That said, someone must be doing something with the trees we export (like making pallets?) or as they are locally, making MDF (which another boat load of leaves today for Japan).
On the bright side for local timber exporters - to add to the Chinese related virus issues you also now have Australia looking to ditch a bunch of fire damaged trees before they become bug infested too.
And paper, perhaps? After all, it was the abundance of radiata pine planted in the central North Island that was the impetus to build Tasman's plant at Kawerau and NZ Forest Products' at Kinleith all those years ago.Quote:
That said, someone must be doing something with the trees we export (like making pallets?) or as they are locally, making MDF (which another boat load of leaves today for Japan).
us markets approaching key targets 30 k dow
The epidemic has negatively impacted the overall China economy, especially the retail and service sectors,” said Wu in a conference call after the results. “While demand for goods and services is there, the means of production in the economy has been hampered by the delayed opening of offices, factories and schools after the Lunar New Year’s holiday.”
https://www.bloomberg.com/news/artic...d=premium-asia
from alibaba results
At this stage black monday only for NZ. potential for double top or trading range developing
Record number of call options bought last week in US ...whatever that signals
SP500 consolidating 3391 -3354