Q2 2024 Forisk Wood Fiber Review: PNW Pulplog Prices Continue Downward Trend
Forisk Blog
by Vickie Swanton
2w ago
This blog includes data from the Forisk Wood Fiber Review, a quarterly publication tracking North America’s major wood fiber markets. For more information, please visit www.forisk.com or contact Nick DiLuzio at ndiluzio@forisk.com. The slight increase in Douglas fir pulplog prices in Q2 2024 is not enough to offset the overall declining trend of prices returning to the historical mean after the recent peak of Q4 2022, when prices reached mid-$50/green ton due to scarce supply. One possible factor contributing to the shortage of pulplogs in Q4 2022 was the advancement of sawmill techn ..read more
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Forisk Market Bulletin: June 2024 Mill Update
Forisk Blog
by Nick DiLuzio
3w ago
Authored by Pat Jolley Forest products manufacturers continue to complete capital projects and plan new investments, while some firms are closing lower performing mills. Most of the added capacity is in the U.S. South with only a few exceptions. Western Canada and the U.S. West remain the leading regions for new and expanded mass timber mills. Recent projects completed in the U.S. South include Hood Industries in Bogalusa, LA and East Alabama Lumber Company in Lafayette, AL where both successfully reopened their lumber mills after rebuilding following fire events. Gloster Forest Products in Gl ..read more
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Does Timberland Have a Liquidity Problem?
Forisk Blog
by Brooks Mendell
1M ago
This post includes excerpts from the Q2 2024 Forisk Research Quarterly (FRQ) feature article, “Topics on Forest Finance: Investment Criteria and Timberland Liquidity” and from the forthcoming 7th edition of Forest Finance Simplified. Liquidity – the ability to convert assets into cash – generally worries investors, from institutions to hedge funds to individuals. In my research, I find that the issue of liquidity varies significantly by investor and over time, and that we are quick to generalize about the advantages and disadvantages of liquidity, especially in forestry. In the case of timberl ..read more
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Forisk Timberland Transactions: 2023 Review
Forisk Blog
by Matt Camp
1M ago
This post includes data from Forisk’s North American Timberland Transactions Database and research from the Forisk Research Quarterly.   2023 was a down year for timberland transactions in the U.S. and Canada, with just over a million acres trading, well below the two to two and half million acres range that has been the norm since Forisk started tracking transactions. Was this an anomaly or a sign of what’s to come? Only time will tell, but a few observations can be made by looking at the historical data.     The figure above shows total acres transacted by year from Forisk’s ..read more
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Matching Logging Employment Changes to Wood Demand
Forisk Blog
by Shawn Baker
1M ago
At Forisk, we often evaluate our past performance to learn from, and improve, our work. Our forecast scorecards, published in every issue of our Forisk Research Quarterly (FRQ), are the most visible evidence of this practice, however our team often revisits past analysis to review how it performed. In our upcoming FRQ, we will repeat a Q3 2022 evaluation of the logging industry in which we matched recent changes in wood demand to changes in logging employment. That analysis categorized counties into one of four groups, based on whether logging employment increased or decreased in the preceding ..read more
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North America’s Top Timberland Owners and Managers, 2024 Update
Forisk Blog
by Matt Camp
2M ago
This post includes data from Forisk’s 2024 North American Timberland Owner & Manager List and the Q2 2024 Forisk Research Quarterly. Forisk has been tracking timberland transactions and aggregating timberland owner data since 2005. The 2024 edition of the North American Timberland Owner & Manager List includes 320 organizations that own or manage at least 10,000 acres. Since the 2023 edition, 14 organizations were added and two fell off, representing a 5% change in owners and an additional 2 million acres. Over that time period, Forisk tracked timberland transaction ..read more
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Financial Criteria in Forestry, Part II: Which Do We Use and When?
Forisk Blog
by Brooks Mendell
2M ago
This post introduces research and topics that will be addressed in the Q2 2024 Forisk Research Quarterly (FRQ), which includes forest industry analysis and timber price forecasts for North America. When deciding where to allocate limited capital, we benefit by systematically applying available criteria for identifying, ranking, and optimizing the available options. In the previous post (Financial Criteria in Forestry, Part I: What’s the Question?), I concentrated on how quality questions help us prioritize and clarify issues when making forest investment decisions. This post focuses on how cho ..read more
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Financial Criteria in Forestry: What’s the Question?
Forisk Blog
by Brooks Mendell
3M ago
This post introduces research and topics that will be addressed in the Q2 2024 Forisk Research Quarterly (FRQ), which includes forest industry analysis and timber price forecasts for North America. Good questions clarify our context, risks, and options. Well-structured questions reveal new information and potential next steps. They help distinguish the important, relevant, and actionable from the unsubstantiated and uncontrollable. A quality question requires prioritizing issues and supports decision-making. Three Types of Finance Questions In forest finance, and in finance generally, three se ..read more
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Local Variation in Supply, Demand, and Prices
Forisk Blog
by Shawn Baker
3M ago
As part of our featured research in the Q1 2024 Forisk Research Quarterly, we investigated local variations in supply, demand, and timber prices. Our findings confirm standard economic assumptions regarding timber prices over time and across geographies. 1) Wood demand and stumpage (timber) prices tend to correlate positively. 2) Significant supply changes alter the demand-price relationship rather than dictate the direction of prices. 3) Abundant supply relative to demand inhibits prices. Timber markets remain uniquely local. Supply and demand can fluctuate across relatively small distances a ..read more
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Forisk Market Bulletin: Mill Update
Forisk Blog
by Amanda Lang
3M ago
Mill news is mixed for the North American forest products industry as firms continue to complete mill investments and announce mill closings. In the first quarter of 2024, firms advanced sawmill expansions in the U.S. South while others closed sawmills in the U.S. West and North. Companies announced additional future sawmill closings in the U.S. West and U.S. North regions, but other firms announced investments in OSB and mass timber facilities in the Northern U.S. and Canada. Forisk tracks mill activity in the North American Forest Industry Capacity Database. U.S. South In the U.S. South, Wey ..read more
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