Pine Prices Lead during Q2 2023
Check out what we found when diving into our Q2 data...
High-volume wood species showed pricing growth throughout the Lake States in the second quarter of 2023 with pine showing continued growth as prospects for home construction gained strength early in the year and lumber prices soared at an even higher pace.
Forest Data Network index prices for pine were strong in both sawlogs and cords with double-digit increases over 2022 in white pine in all three Lake States. Red pine prices showed strength except for sawlogs in Wisconsin which dropped 9% from a strong showing in 2022.
However, transaction volumes were reduced from 2022 — particularly in Michigan and Minnesota — likely impacted heavily by late winter weather in the quarter dampening activity in the woods and on the roads.
To see how your region fared in the quarter that ended June 30, you can subscribe to pricing reports for one of 28 regions HERE.
An outlier was hard maple sawlog prices, which had soared in 2022 by 17% in Wisconsin, which returned to trend in 2023 —down to 2021 pricing.
However oak, the other hardwood leader, showed good strength in Wisconsin, with red oak sawlog prices particularly robust. That trend did not extend to Michigan oak cordwood, but sawlog prices in Michigan grew by 15%.
You can compare pine (and other species) prices across 28 Lake States regions with a low-cost species price subscription available HERE.