Lumber prices typically rise in the spring as builders stock up for construction season. But this year, they are being hit hard by bad weather and a decline in home building. …Lumber futures settled 2% lower at $334.40 per 1,000 board feet on the Chicago Mercantile Exchange on Wednesday—down nearly half from the high of $639 reached on May 17, 2018. …Lumber producers are facing reduced residential construction, signs that remodeling work may slow and gains in output and efficiency at mills in the South. Two big Canadian mill owners— Canfor Corp. and Interfor Corp. —said last week that they would curtail output in their BC facilities… The announcements nudged lumber prices higher, but futures have since given up some of the gains. Nationwide, housing starts and building permits unexpectedly declined in March. …Executives with Weyerhaeuser… said they were optimistic that housing would rebound due to lower mortgage rates, strong job growth and better weather. [To access the full story you will need a WSJ subscription]