📘 Read the full study in the Journal of Forest Business Research (2024): https://doi.org/10.62320/jfbr.v3i2.58 or contact Dr. Jacek Siry for more information.
The Southeastern U.S. timber market is a dynamic system where pine sawtimber (PST), chip-n-saw (CNS), and pulpwood (PP) prices interact in complex ways. A recent study by Misztal et al. (2024) used 40 years of TimberMart-South data to explore these relationships across 14 regions.
The study found that sawtimber prices most frequently influence chip-n-saw prices, suggesting a cascading effect from higher-value products to mid-tier ones. Conversely, pulpwood prices rarely influence other product classes, though exceptions exist in pulp-dominant markets like Georgia.
Importantly, the study revealed that price dynamics are highly regional. For example, in Mississippi and Georgia, pulpwood plays a more central role, while in Alabama and North Carolina, sawtimber exerts more influence. These differences are shaped by local mill infrastructure, land ownership patterns, and product demand.
🌲 For forest managers, this means that harvest timing and product targeting should be tailored to local market conditions. For timber buyers, understanding these relationships can improve procurement strategies and cost forecasting, especially during market volatility.
This research also highlights the subjectivity in timber product classification in the Southeast, where product definitions vary by mill and sale. As the industry evolves, especially with growing interest in carbon markets and alternative wood uses, understanding these price relationships will be increasingly important.
