Timber markets in Eastern and Western North Carolina (NC) experienced similar quarterly price changes across all six product classes during the third quarter of 2024. Pine pulpwood prices increased by 19% and 17% respectively for Eastern and Western, NC. Mixed hardwood sawtimber prices increased in both regions with Eastern prices rising by 2% and Western prices increasing by 15%. Oak sawtimber prices also went up 9% in both Eastern and Western, NC. Prices declined in product classes for pine chip-n- saw and pine sawtimber across both regions. Pine chip-n-saw and pine sawtimber prices decline by 7% and 8% respectively in Eastern, NC. Western, NC had 10% and 15% decline in pine chip-n-saw and pine sawtimber prices respectively. Hardwood pulpwood prices in Eastern and Western NC was a mix with hardwood pulpwood prices dropping by 9% in Western NC and rising by 1% in Eastern NC.
In a review of North Carolina state-wide data, state-wide average standing timber prices for the third quarter of 2024 increased for three of the six timber product classes compared to the previous quarter. The three product classes experiencing increased timber prices are pine pulpwood, mixed hardwood sawtimber, and oak sawtimber, rising by 18%, 8%, and 9%, respectively. The three product classes that experienced a decline in timber prices this quarter compared to second-quarter prices include pine chip-n-saw, which declined 8%, pine sawtimber, which decreased by 11%, and hardwood pulpwood, which decreased by 4%. Compared to five years ago, third quarter 2019, the largest increase in state-wide average standing timber prices occurred in the product class for pine chip-n-saw, which had a 23% increase. Pine and mixed hardwood sawtimber product classes had modest increases in state-wide average timber prices of 5% and 4%, respectively. Oak sawtimber and hardwood pulpwood product classes showed slight increases in state-wide average timber prices compared to third quarter 2019, but are relatively flat, with a 2% and 1% increase respectively. The product class for pine pulpwood experienced the biggest decline in state-wide average timber prices, dropping 17% compared to five years ago.
To see the most recent state-wide standing timber quarterly price report for North Carolina visit Forestry Price Data
