Species Price Changes Collide as 2023 Ends

Take a look at the latest findings from our Q4 data collection!

Timber stumpage index pricing compiled by Forest Data Network for the fourth quarter of 2023 reflected countervailing trends, with some strong positives in some areas and real continued softness in various pulpwood markets.

Pine cordwood prices reflected continued growth in all three Lake States with the strongest demand showing up in Michigan where the average price of pine cordwood was up 41% from 2022 and 59% from 2021. Both red and white pine sawlog prices also advanced but by lower percentages.

Weighted average pine cordwood prices also advanced in Minnesota and Wisconsin but at a slower pace. Michigan pine pulpwood prices outpaced prices in the other two Lake States.

However, there were some mills closed to hardwood cordwood purchases and also “no bid” auctions reported in the 4th quarter.

In contrast, the strong prices prevalent in 2022 for hard maple sawlogs in Wisconsin and Michigan receded in 2023. In both states the prices returned close to 2021 levels. Maple cord pricing in 2023 ran counter to the sawlog trend, advancing from the prior year in Michigan and Wisconsin.


Meanwhile, general softness in hardwood pulpwood markets also prevailed for oak in the 4th quarter, with prices bouncing around $20 per cord, except in Michigan where oak sold for over $40 per cord, but at a 7.5% discount from the prior year.

Red oak sawlog prices maintained their strength in all three Lake States. Oak sawlog prices remained strongest in Wisconsin.

Black Walnut prices dropped in the 4th quarter in both Minnesota and Wisconsin, but on a very limited number of transaction prices making it difficult to tie to any general trend.

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