Maryland and Delaware
Stumpage Price Report

Report 2001 - No. 3
September - December 2001


The stumpage price report is a cooperative effort among Maryland Cooperative Extension, Maryland Department of Agriculture, Maryland Department of Natural Resources-Forest Service, Delaware Forest Service, Maryland Tree Farmers and forest landowners.  It is consolidated and distributed every four months by the University of Maryland, Wye Research and Education Center, P.O. Box 169, Queenstown, MD 21658. Their phone number is 410-827-8056.


The prices contained in this publication are collected from consulting and state agency foresters in four price-reporting areas throughout Maryland and Delaware. Reporting is voluntary, so this is not a complete record of sale activity in Maryland and Delaware.  Prices are intended to serve ONLY AS A GUIDE for the marketing of standing timber. The actual value of a specific stand of timber may be influenced by the following factors:

1. Timber quality 10. Type of logging equipment
2. Volume to be cut per acre 11. Percentage of timber species in the area
3. Logging terrain 12. End product
4. Market demand 13. Landowner requirements
5. Distance to market 14. Landowner knowledge of market value
6. Season of year 15. Property taxes
7. Distance to public roads 16. Performance bond requirements
8. Labor costs 17. Insurance costs
9. Size of the average tree to be cut 18. Size of harvest

What is stumpage?

Stumpage refers to the price that a landowner receives for standing trees.

Why four different regions?

The four regions described in this report reflect unique forest product markets in Maryland and Delaware.  For example, the quality and quantity of black cherry and oaks produced in the Western Region usually surpasses that of the other three regions. Loblolly pine is a timber species that is found mostly on the Eastern Shore and Southern Region.  It is important to note that counties may reflect the trends of the regions they border. Regions include:  Eastern Shore (ES) = Kent-Worchester Counties, MD and Sussex-Kent Counties, DE; Southern (S) = Anne Arundel/Prince George's – St. Mary's Counties, MD; Central (C) = Cecil-Carroll/Montgomery Counties, MD and New Castle County, DE; Western (W) = Frederick-Garrett Counties, MD.

What are the different products mentioned in the report?

The majority of the prices reported are for sawtimber and veneer products. Sawtimber trees are typically above 12 inches in diameter at breast height (DBH; 4.5 feet from the ground) and have at least one 8-foot log that can be harvested.  Sawtimber trees are used for boards, railroad ties, and other products.  Veneer quality timber is typically of larger diameter, comes from the bottom log of the tree, and has no branches or imperfections.  Poles are used for telephone poles, piling, and related products.  Fuelwood refers to timber sold for firewood. Fuelwood includes poorer quality trees, dead trees, and tree tops.   Pulpwood trees are used to produce paper products.  Biomass includes trees that are burned for power generation.


What do the prices mean?

Dramatic fluctuations are common in timber markets and past reports may not accurately reflect the latest market conditions.  Many factors can influence the price of timber on a given tract of land (see list on first page).  For example, the range of prices for one species may vary from $50-$350 per thousand board feet.  This wide range might exist because the lower value reflects poor-quality timber; whereas, the higher value reflects high-quality timber that could be used for veneer products.


How are the prices reported?

The stumpage prices for each species and/or product category include three pieces of information: 1) the number of reported sales; 2) the average of all reported values; and 3) the range of values from lowest to highest. Poles, fuelwood, pulpwood, and biomass are special products that are sold by the linear foot, cord, or the ton.  All other prices are reported as the dollars per thousand board feet of timber ($/MBF).  One board foot is 12 inches x 12 inches x 1 inch. The number of board feet in each tree depends on its diameter, number of logs, and defects.  A thousand board feet of timber may be made up of a few large trees or many small trees.  The scale used to determine board feet in standing trees is the International ¼ inch scale, which provides the most accurate measure of board feet.  Stumpage prices reported in a Doyle log scale, another common rule, tend to underestimate the volume of timber and must be adjusted to be compatible with the International ¼ inch scale.

Where to get help?

The sale of timber products should include three people: 1) the forest landowner selling the timber; 2) a licensed professional forester who assists the landowner with determining which trees should be harvested and helps the landowner work with the logger; and 3) the logger who carries out the actual harvesting of the trees.



Maryland - Delaware Stumpage Price Survey Results

September-December 2001

The table below summarizes reported prices paid for standing timber during September-December 2001.  Prices for sawtimber are in $/MBF (1000 board feet) International ¼ inch scale.  Pulpwood and fuelwood are reported in $/cord or $/100 lbs, biomass in $/ton.  The Range shows the high and low prices reported. Reporting is voluntary and this is not a complete record of sale activity in Maryland and Delaware.


Total responses: 22               Total sales: 33            Total sales in acres: >342

Eastern Shore

Southern

Central

Western

Species/Product

#

Avg.

Range

#

Avg.

Range

#

Avg.

Range

#

Avg.

Range
Red Oak 0 0
0
4
435
420-450  
White Oak 0 0
0
4
244
235-250
Mixed Oaks 0 0
1
251
251
 1
278
278
Oak/mixed Hdwd (high quality) 0     0
  5
307
273-336
 0
Ash 0     0
  0
2
248
245-250
Cherry 0     0
  0
4
599
525-640
Sugar maple 0     0
  0
2
348
345-350
Tulip poplar 0     0
  2
265      
265
 0
Other Hdwd (Tulip Poplar, Oaks, Ash, Cherry, Sweet Gum, Walnut)(Red Maple) 0     1
300
 300 4
357
278-425
 3



4
280



8
273-284



5-9
Mixed Hdwd (low quality) 1 70 70 0
  1
68
68
 1
170
170
Loblolly pine 9 283 210-340 1
143
 143 0
0
Virginia Pine 0     0
  0
0
White Pine 0     0
  0
0
Other sfwd 0     0
  0
0
Poles, hdwd ($/linear ft) 0     0
  0
0
Poles, sfwd ($/linear ft) 0     0
  0
0
Fuelwood ($/cord) 0     0
  0
0
Pulpwood ($/cord) 0     0
  1
3.75
3.75
 0
Biomass ($/ton) 0     0
  0
0
 

Values in $/thousand board feet ($/MBF)

Summary of Sale Characteristics
September-December 2001

Size # sales % of sales Type # sales % of sales Reported by # reporting % reporting
<50 MBF
6
18
 Lump sum
19
58
 Consulting forester
7
78
51-100 MBF
3
9
 Mill-tally
3
9
 Public lands foresters
1
11
> 100 MBF
12
36
 No data
11
33
 Industrial foresters
1
11
Unknown
12
36
       Independent
0
0
            Logger/buyer
0
0
            CFM state foresters
0
0