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    South-wide Stumpage Markets

    The effects of COVID-19 were felt across the South in the 2nd Quarter - the first full quarter since the pandemic-driven economic downturn began - with South-wide average stumpage prices declining for all five major products this quarter.

    While the common, seasonal trend is for stumpage prices to fall in the 2nd Quarter (particularly for the major pine products), the typical quarter-over-quarter (Q/Q) drop was exacerbated by the ongoing COVID-19 pandemic. Specifically, pine sawtimber experienced its largest Q/Q decrease in over eight years and fell to within $0.15 of its 25-year low. Also, pine chip-n-saw experienced its largest Q/Q drop in over a decade, while pine pulpwood fell to its lowest level since 2011.

    The drop in hardwood sawtimber price this quarter was more in line with seasonal, 2nd Quarter tendencies. However, hardwood pulpwood price declined for the 4th consecutive quarter and fell below that of pine pulpwood for the first time since 2nd Quarter 2018.

    Click here to view the 2Q2020 Bulletin

    Stumpage Prices & Publications

    South-wide Average Stumpage Prices

    • Available here (last updated Jul 15, 2020)

    State-wide Average Stumpage Prices

    • Available here (last updated Jul 15, 2020)

    Quarterly Report Distributions

    In the News 2Q2020

    COVID-19: still an economic factor driving temporary mill closings this quarter. Many manufacturers took rolling downtime at various mills due to uncertain markets and unexpected infections.

    Paper production was severely curtailed due to a drop in demand while tissue production surged.


    Market Indicators

    The US Census reported slightly negative US construction spending in June on a seasonally adjusted basis; however, there were some relatively strong increases year-to-date over the same period in 2019.

    Total private construction was $507 billion, up 4.5% ytd through June, a nearly $22 billion increase over the same period a year ago.
    More good news, residential spending was strong with single family construction at $134 billion, up $3.9%, a $5 billion increase and
    residential improvement at $99 billion, up 18.0%, a $15 billion increase.

    Looking at July, the Purchaser Managers Index (PMI) July report showed continued expansion, an increase to 54.2 from 52.6 in June (over 50 indicates expansion). Wood Products reported growth, while Paper Products remained steady, neither growth nor contraction.