CHICAGO, Nov 2 (Reuters) - Lumber futures on the Chicago Mercantile Exchange closed up 3 percent in limitless November and set an 11-week high on Monday as funds rolled their short November positions and a firmer tone to cash lent support.
* Funds moved out of the November contract as it became the spot month with no trading limits.
* Reports of higher cash lumber prices, expectations of further mill curtailments and some improvement in housing also lent support.
* Although January showed some resistance on the fund rolling, it still managed to post a new three-month high.
* November lumber closed up $5.60 at $192.50 per tbf, with January up $3.00 at $214.00. November set an 11-week high and January a three-month high.
* Housing reports had little effect on futures, especially pending home sales, which shows demand for used homes. But having housing numbers up likely kept sellers at bay.
* National Association of Realtors said its Pending Home Sales Index, rose 6.1 percent to 110.1, its highest level since December 2006. It was the eighth straight monthly rise in the index, the longest streak since the measurement started in 2001.
* Commerce Department said on Monday U.S. construction spending in September rose 0.8 percent to $940.3 billion, with home building rising 3.9 percent, its largest gain since rising 4.2 percent in July 2003.
* Random Lengths on Friday reported cash spruce at $192 per tbf, unchanged from Wednesday and down $1 from a week earlier. Traders cited private reports of cash trading at $196 on Monday.

(Reporting by Jerry Bieszk; Editing by Walter Bagley)

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