(19 May 2010) US softwood lumber prices started to retreat for the first time in a while early in May, after rising sharply from the start of the year through April 2010. It remains to be seen, however, whether this has been a real trend reversal or merely a momentary softening in demand, as dealers have enough wood in-hand for much of May. Dealers had apparently replenished their stocks to a certain degree in prior weeks, so that they will now be able to back-off ordering in an attempt to out-wait mills in order to force prices back down from their recent highs. However, supplies remain thin throughout the distribution network and wood for June and July needs will have to be ordered at some point. In this vein, another spike in pricing on the North American lumber markets might follow during the summer.