North Carolina Timber Prices in Decline!
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Collapse ▲North Carolina (NC) state-wide timber stumpage prices for third quarter 2023 mirror south-wide timber stumpage price trends with decreases for four of the five major product classes. Prices decreased for pine sawtimber, pine chip-n-saw, pine pulpwood and hardwood pulpwood. Hardwood sawtimber saw a price increase. The drop in pine prices and increase in hardwood sawtimber prices are not unexpected. According to TimberMart-South 3rd quarter 2023 market bulletin, drop in timber stumpage prices follows a seasonal historic trend where pine prices have dropped from the second quarter to the third quarter in seven of the last 10 years and hardwood sawtimber stumpage prices have increased from second quarter to third quarter in 23 of the last 25 years. These seasonal trends are often the result of drier weather conditions alleviate supply constraints.
In review of quarter-to-quarter standing timber price data for Eastern and Western NC, Eastern NC third quarter 2023 average prices were down from the second quarter 2023 prices for all product classes. In Eastern NC pine and oak sawtimber prices decreased by 3% and both pine and hardwood pulpwood prices decreased by 7%. Timber prices in Western NC showed similar trends to Eastern NC. Pine sawtimber and pulpwood prices were down 6% and 3% respectively. Hardwood pulpwood prices was also down 3%. The one positive note for Western NC is that mixed hardwood and oak sawtimber price increased for the third quarter, 2023 by 9% and 33% respectively.
For more information on the third quarter 2023 average timber stumpage prices in North Carolina, please visit the Forestry Price Data page. Remember, timber prices may vary greatly depending on many factors to include location, species, products, access and distance to mill. Timber prices presented in price reports may not reflect the stumpage values for a particular stand of trees or with in a specific region of the state. It is recommended that you seek professional assistance in accessing the value of your standing timber.