Michigan timber pricing soft as 2020 closes
FDN prices showed some scattering of strong species pricing
Madison, Wis. -- Looking for promising Michigan timber pricing was hard work as 2020 came to an end. Much regional price activity was quite soft. There was favorable price activity in some regions, but it was scattered; there was no strong statewide trend boosting any log species broadly.
Maple species across the areas of the Wolverine State where Forest Data Network reports pricing showed broad geographic weakness. FDN index prices for maple sawlogs hit a 3-year low in the 4th quarter of 2020. This trend was apparent statewide for sugar maple sawlogs. All eight Michigan regions showed a decrease in sugar maple prices.
Meanwhile, cherry and white oak sawlogs were bright spots amidst generally disappointing trends. Cherry log prices rose by 34% and white oak moved upward by 16% as furniture and flooring sales responded to a national housing boom.
Meanwhile, pine cordwood prices were weak in most regions. The statewide index price for pine pulpwood fell by almost 9% in the 4th quarter.
For full information on Michigan year end 2020 price trends, check here.
Here’s a round up of the most notable price trends in specific Michigan regions:
Western U.P. showed general weakness in hardwood sawlog prices. Pine prices were more stable.
Marquette regional prices (in the U.P.) for sawlogs were stronger than those of neighboring areas. The region benefited from increasing prices for oak sawlogs.
The Escanaba region (the U.P.) showed a continuing downward trend for maple prices.
Mackinac region (the U.P.) price trends were weak in most sawlog categories and in cordwood.
The North Shore region exhibited weakness in maple logs. In contrast red pine log prices continued on a robust trend,
Huron region prices were generally weak for sawlogs and cordwood.
Central region pricing benefited from stable pine prices, buoyed by both sawlogs and cordwood.
Southern prices for oak generally benefited from good oak prices.