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    South-wide Stumpage Markets

    A wet 1st Quarter restricted wood supply, causing South-wide average stumpage prices to increase for the three major pine products this quarter. However, stumpage prices for both major hardwood products declined in the 1st Quarter.  

    The upward movement in pine stumpage prices was in line with the seasonal, wintertime trends that have seen stumpage prices increase quarter-over-quarter (Q/Q) in the 1st Quarter in eight of the last 11 years for both pine sawtimber and pine pulpwood, and in nine of the last 11 years for pine chip-n-saw. However, markets were affected late in the quarter by the COVID-19 outbreak, dampening these seasonal upswings.

    Click here to view the 1Q2020 Bulletin

    Stumpage Prices & Publications

    South-wide Average Stumpage Prices

    • Available here (last updated Apr 15, 2020)

    State-wide Average Stumpage Prices

    • Available here (last updated Apr 15, 2020)

    Quarterly Report Distributions

    In the News 2Q2020

    COVID-19 continues to impact the economy.

    In 33 states, some form of "shelter in place" or "stay at home" order began between March 15th and May 1st. Four states did not shut down. 17 ordered a partial shutdown. In 36 states that shut down, building construction including residential was deemed “essential” and so was not shut down.

  • Georgia, one of the shut down states, began opening up again May 1st. Others followed.

  • Michigan and New Jersey shut down construction in March and restarted beginning May 7th for Michigan and May 18th for New Jersey. On May 15th, New York restarted "non-essential" construction, "upstate only".

  • Nevertheless, US reported construction employment declined in March by nearly one million jobs.

    Market Indicators

    The news is full of the big drop in April residential construction (following a smaller drop in March). However, two months of declining starts still leave the US ahead of the same period in 2019. March starts were revised upward in today's April report.

    New Res. Const. totaled 411,000 units ytd April 2020 compared to 382,000 ytd same period 2019 (+7.6%) Single family 274,000 units started compared to 270,000 in 2019 (+1.3%) Most of increase in total starts was due to surge in 5+ unit multi family. 133, 000 units ytd compared to 108,0000 in same period of 2019 (+23.7%).

    Many of the governors in their COVID-19 executive orders prioritized multi-family and "affordable" housing as "essential" infrastructure. Hospitals and other non-residential construction were also high priority. We will find out the rate of April home improvements in about two weeks.