Hardwood Pulpwood Stumpage Price Trends in the Northeast

摘要

Hardwood pulpwood consumption has increased in five leading Northeastern statesfrom 1.2 million cords in 1963 to 4.6 million cords in 19979. A shift from the reliance on softwoods has occurred and by the mid-1970s hardwood use exceeded softwood. This increases the importance of the markets for hardwood pulpwood. These five states-Maine, New Hampshire, New York, Pennsylvania, and Vermont-maintain price reports on stumpage, some dating from the early 1960. We report analyses of trends, nominal and real prices of hardwood stumpage, and comparisons among states. For the most recent decade, real price increases for hardwood pulpwood were detected only in Maine and Vermont. Due to a tightening demand-supply situation, spruce-fir pulpwood stumpage price increased faster than hardwood price after the early 1980s in Maine, New Hampshire, and New York. Aspen pulpwood stumpage price increased in Maine during the last 10 years, while decreasing in New York. As expected, prices across the region were correlated with harvesting pressure.