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U.S. lumber futures were up by the daily limit, reversing a dramatic slide that saw the lead May contract lose a quarter of its value. But the gains, based on reports of a large sale of wood to China, may be short-lived as the lumber market's fundamental problems remain.
Environmentalists are trying to block industry's rush to use logging waste in Washington state—even at the cost of closing a large employer.
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Exports of waste paper—cardboard boxes and other scraps—are taking off, fed by China's demand for boxes.
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Kimberly-Clark said it would raise prices between 3% and 7% on products such as Cottonelle and Scott tissue as well as Huggies diapers, citing rising raw-materials and energy costs.
Fairholme Funds, a Miami-based mutual fund manager, won a battle for control of St. Joe, the largest private owner of land near the white sand beaches of Florida's panhandle in a change that may signal a new direction for northwest Florida.
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