Articles

Pennsylvania Timber Market Report, Second Quarter, 2022

Stumpage prices as reported by Pennsylvania timber and logging companies, forestry consultants, and state land management agencies to analysts at the Pennsylvania State University.

Updated:

August 22, 2022

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Logging is in full swing this summer.

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April - June 2022 Stumpage Prices

$ per MBF International 1/4"

Northeast Price Ranges by Species

Species by Region	Minus 1 Std Dev	Average	Plus 1 Std Dev	N#
Northern Red Oak	$305	$468	$632	8
White Oak	$281	$429	$577	9
Mixed Oak	$199	$338	$477	10
Black Cherry	$284	$717	$1,151	7
White Ash	$0	$0	$0	0
Hard Maple	$280	$441	$601	4
Soft Maple	$173	$315	$456	13
Yellow-Poplar	$0	$440	$0	1
Misc. Hardwoods	$16	$87	$157	8
White Pine	$34	$76	$118	2
Hemlock	$5	$64	$123	2

Southeast Price Ranges by Species

Species by Region	Minus 1 Std Dev	Average	Plus 1 Std Dev	N#
Northern Red Oak	$524	$744	$964	12
White Oak	$585	$786	$987	12
Mixed Oak	$410	$571	$732	12
Black Cherry	$191	$252	$313	4
White Ash	$163	$222	$280	4
Hard Maple	$113	$331	$548	3
Soft Maple	$236	$328	$420	11
Yellow-poplar	$337	$486	$635	12
Misc. Hardwoods	$196	$274	$352	11
White Pine	$79	$131	$183	5
Hemlock	$26	$51	$76	4

Northwest Price Ranges by Species

Species by Region	Minus 1 Std Dev	Average	Plus 1 Std Dev	N#
Northern Red Oak	$321	$478	$636	26
White Oak	$469	$634	$798	20
Mixed Oak	$186	$322	$458	18
Black Cherry	$256	$492	$728	35
White Ash	$3	$143	$284	12
Hard Maple	$386	$571	$756	26
Soft Maple	$287	$431	$574	37
Yellow-poplar	$139	$245	$350	16
Misc. Hardwoods	$39	$93	$147	34
White Pine	$4	$44	$84	4
Hemlock	$0	$28	$56	12

Southwest Price Ranges by Species

Species by Region	Minus 1 Std Dev	Average	Plus 1 Std Dev	N#
Northern Red Oak	$252	$382	$511	11
White Oak	$330	$539	$749	11
Mixed Oak	$234	$318	$401	10
Black Cherry	$116	$229	$343	9
White Ash	$123	$197	$270	3
Hard Maple	$257	$510	$763	9
Soft Maple	$116	$248	$380	10
Yellow-poplar	$226	$321	$416	11
Misc. Hardwoods	$88	$154	$220	11
White Pine	$119	$164	$209	4
Hemlock	$89	$138	$187	2

Conversion Factors
Doyle Price = 1.695 x International 1/4" Price
Scribner Price = 1.159 x International 1/4" Price
(n) is the number of responses used to calculate the price statistics.

Private and Other Public Pulpwood Stumpage

Hardwood Pulp ($/ton)

Region	Low	Avg	High	(n)#
Northeast	$1.00	$1.00	$1.00	4
Southeast	$1.00	$1.00	$1.00	4
Northwest	$0.00	$1.42	$5.00	24
Southwest	$1.00	$3.00	$10.00	7

Softwood Pulp ($/ton)

Region	Low	Avg	High	(n)#
Northeast	-	-	-	0
Southeast	^	^	^	1
Northwest	$0.00	$1.13	$5.00	8
Southwest	^	^	^	1

^ No prices are reported for samples with only a single respondent.
* Ranges are not reported for samples with fewer than three respondents.

Bureau of Forestry Pulpwood Stumpage

Hardwood Pulp ($/ton)

Region	Low	Avg	High	(n)#
Northeast	$3.10	$3.79	$4.83	6
Southeast	-	-	-	0
Northwest	$2.07	$5.29	$10.00	6
Southwest	^	^	^	1

Softwood Pulp ($/ton)

Region	Low	Avg	High	(n)#
Northeast	*	$6.14	*	2
Southeast	-	-	-	0
Northwest	-	-	-	0
Southwest	-	-	-	0

^ No prices are reported for samples with only a single respondent.
* Ranges are not reported for samples with fewer than three respondents.

Dr. Ray's Comments

The second quarter was pretty good in the Pennsylvania forest industry. Although our averages show a price decline of 10-20% in oak and cherry in all regions of the state, prices remain in historically strong territory.

Some of the softening in prices may be attributable to the fact that we had an encouragingly high level of data contributors, which brought in a number of smaller companies with relatively fewer sales at lower prices. In that sense, this quarter's report is actually a better indicator of the entire timber market in Pennsylvania than was last quarter's, which had a smaller number of contributors and sales.

In addition, prices are just about in line with the softening of fuel prices over the summer, so the market downturn may be at least in part reflecting a slowing of inflation that seems to be taking place. Let's hope that holds into the fall.

What you can't see in the averages reflected in the graphs and tables above is what I observe while performing data entry on individual sales. I could summarize it this way...great stands are still fetching great prices, and more poor stands are being sold hoping to capitalize on current market conditions. When they all get averaged, much of that information goes out in the wash. We are working on a methodology and reporting tool that will help users like you better see and understand that differentiation the way I see it here in the raw data.

To our data contributors...thanks for helping make this one of the best hardwood timber reports in the nation, and keep those numbers coming in!

To our readers...stay tuned in, changes are coming to the report that will make it more functionally useful for most of you.

Take care,

Chuck