CME lumber ends higher, following outside markets

CHICAGO, Nov 4 (Reuters) - Lumber futures on the Chicago Mercantile Exchange were lightly traded and closed a little higher on Wednesday, following gains in many other commodities and a higher stock market.

* Trade activity was light as the market awaited the next move by the Federal Reserve on interest rates, with a lumber industry convention this week also drawing traders away from their offices.

* Lack of direction in the cash market also kept local traders generally on the sidelines.

* Limitless November lumber 2LBX9 closed up $1.20 at $188.30 per tbf, and January 2LBF0 up 60 cents at $210.50.

* Random Lengths on Wednesday reported cash spruce at $192 per tbf, unchanged from Friday and a week ago.

* "Trading was dull through Tuesday. But in both framing lumber and structural panels, supply and demand were about in balance," Random Lengths said.

* "Secondaries traded light volumes, rarely taking more than the smallest of positions. Dealers adhered to just-in-time purchasing," they said.

* "Some producers and wholesalers worked to clear their lists ahead of a major industry meeting later in the week. Producers rarely sought orders with big cuts in prices, but most solicited offers when they felt pressure to sell," the reporting agency added.

* U.S. mortgage applications rose for the first time in four weeks, reflecting a jump in demand for home refinancing loans as interest rates on 30-year loans dropped below 5 percent, the Mortgage Bankers Association said on Wednesday. [ID:nNYS007498]

* The U.S. Senate was poised on Wednesday to extend aid for jobless workers and broaden tax breaks for homebuyers. [ID:nN04322230] (Reporting by Jerry Bieszk; Editing by Walter Bagley)