Chip prices as a proxy for nonsawtimber prices in the Pacific Northwest.

Richard Haynes

doi:10.2737/PNW-RN-537

Treesearch

Chip prices as a proxy for nonsawtimber prices in the Pacific Northwest.

Informally Refereed

Authors:

Richard Haynes

Year:

1999

Type:

Research Note

Station:

Pacific Northwest Research Station

DOI:

https://doi.org/10.2737/PNW-RN-537

Source:

Res. Note PNW-RN-537. Portland, OR: U.S. Department of Agriculture, Forest Service, Pacific Northwest Research Station. 25 p

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Abstract

The heavy focus on Pacific Northwest saw-log prices makes it difficult for land managers to develop price expectations for stands that contain both sawtimber and nonsawtimber logs. This raises the question: What is a reasonable proxy (or measure) for nonsawtimber prices in the Pacific Northwest? One such proxy is export chip prices, which serve as a reasonable measure of value in three ways. First, they reflect the underlying trends in all chip markets. Second, they reflect expected patterns of market arbitrage. Third, they help to explain seasonality and cyclical variation in the chip market.

Keywords

Prices, stumpage, nonsawtimber, sawtimber, proxy, chip prices

Citation

Haynes, Richard W. 1999. Chip prices as a proxy for nonsawtimber prices in the Pacific Northwest. Res. Note PNW-RN-537. Portland, OR: U.S. Department of Agriculture, Forest Service, Pacific Northwest Research Station. 25 p