Sawtimber Prices in North Carolina Increased Substantially in the Second Quarter, 2021
In the second quarter of 2021, both housing and lumber markets started plummeting from the record high levels. In May 2021, US housing starts were down about 3% to a seasonally adjusted annual rate of about 1.68 million units, which is still about 35% up from last year. The lumber markets also started dropping significantly in the last few weeks. The Forest2Market’s southern yellow pine (SYP) lumber price index on July 2, 2021 was $566 per thousand board feet, down 53% from the record high in mid-May, 2021.
In the second quarter of 2021, while both pine and hardwood sawtimber prices rose considerably, both pine and hardwood pulpwood prices were down in North Carolina. According to TimberMart-South, the state-wide average pine sawtimber prices in 2021 Q2 were about $30.5/ton, up 22% from last quarter and up 31% from the price a year ago. It was about 20% above the south-wide average pine sawtimber prices. The pine sawtimber prices in eastern North Carolina surged 30% up to $35/ton in this quarter. Similarly, statewide average pine chip-n-saw prices were $17.1 per ton, up 8.2% from last quarter and up 14% from 2020 Q2.
In this quarter, the state-wide average pine pulpwood price dropped to $9.4/ton, which were down 18% from last quarter but up 3.5% from 2020 Q2. The eastern North Carolina had even a higher drop in pine pulpwood prices to an average of about $11.5/ton.
The statewide mixed hardwood sawtimber prices averaged at $30 per ton in this quarter, up 18% from last quarter and up 23% from the price a year ago. It was still about 15% less than the south-wide average of hardwood sawtimber prices. However, hardwood pulpwood prices trended downward to the state-wide average of $6.2 per ton, down 21% from the last quarter, and down 4.4% from the price a year ago. For more information on the 2021 second quarter stumpage prices in North Carolina, please visit Forestry Price Data.