After peaking around $310/1,000 cubic feet in August, prices for Western softwood 2x4 lumber have receded in recent months to less than $200. And Scotiabank economist Patricia Mohr predicts no major increase in demand from construction markets across North America. "The contracting U.S. economy will likely pull building activity down further in coming months and a sustained pick-up in prices is not expected until late 2009–2010."