Ohio Hardwood Sawlog Price Trends
Keywords:
Appalachian roundwood markets, hardwood log prices, Ohio forest industry, timber marketsAbstract
We examined the 52-yr sawlog price trends for the 10 commercial hardwood tree species in Ohio. Data were compiled from the Ohio Timber Price Report for four log grades (Prime, #1, #2, Blocking) covering the years 1960-2011, and average annual percentage rates of change in both nominal and real sawlog prices were determined. We further compared real log grade price movements within each species. Nominal prices for all log grades of all species increased at significant annual rates. However, real price change rates varied with approximately two-thirds of the species-grade combinations not significantly differing from zero. Real Blocking log prices declined at significant annual rates for seven species. Only white oak contained log grades (Prime and #1 only) with significantly increasing real prices. Four groups were identified based on differences observed, or not observed, when comparing initial price levels of log grades and rates of change within each species. Initial price differences generally occurred between the higher (Prime and #1) and lower (#2 and Blocking) grade logs. Rate of price change differences were more a result of declining Blocking log prices than increasing high-grade log prices with the exception of white oak.References
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