At current prices (Canadian bulk price at $2.95/lb, U.S. bulk price at $2.00/lb), then approximately 59% of the reason U.S. prices are low is attributable to the Canadian $ to U.S. $ exchange rate, and 41% is attributable to oversupply. Currently, oversupply is driving the continued downward price trend in the U.S. Without any oversupply, U.S. bulk prices would be around $2.39, which most producers would probably be satisfied with.