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Maryland and Delaware
Stumpage Price Report
Report 2002-No. 2
May-August
2002
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
May-August 2002
The table below summarizes reported prices paid
for standing timber during May-August 2002.
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 $/ton. The Range shows the high and low prices reported. Reporting is voluntary
and this is not a complete record of sale activity in Maryland and Delaware.
Total responses:
20 Total sales: 25
Total sales in acres: >1623
|
|
Eastern
Shore |
Southern |
Central |
Western |
|
Species/Product |
# |
Avg. |
Range |
# |
Avg. |
Range |
# |
Avg. |
Range |
# |
Avg. |
Range |
|
Red Oak |
0 |
-- |
-- |
2 |
340 |
280-400 |
0 |
-- |
-- |
1 |
385 |
385 |
|
White Oak |
0 |
-- |
-- |
1 |
100 |
100 |
0 |
-- |
-- |
0 |
-- |
-- |
|
Mixed Oaks |
1 |
160 |
160 |
1 |
200 |
200 |
0 |
-- |
-- |
1 |
200 |
200 |
|
Oak/mixed Hdwd (high quality) |
0 |
-- |
-- |
0 |
-- |
-- |
0 |
-- |
-- |
1 |
364 |
364 |
|
Ash |
0 |
-- |
-- |
0 |
-- |
-- |
0 |
-- |
-- |
0 |
-- |
-- |
|
Cherry |
0 |
-- |
-- |
0 |
-- |
-- |
0 |
-- |
-- |
1 |
385 |
385 |
|
Sugar maple |
0 |
-- |
-- |
0 |
-- |
-- |
0 |
-- |
-- |
0 |
-- |
-- |
|
Tulip poplar |
1 |
160 |
160 |
3 |
241 |
200-264 |
0 |
-- |
-- |
0 |
-- |
-- |
|
Mixed Hdwd*
(low quality) |
2 |
55 |
50-60 |
4 |
73 |
40-100 |
0 |
-- |
-- |
0 |
-- |
-- |
|
Other Hdwd
(Oak/mixed Hdwd
medium quality) |
-- |
-- |
-- |
2 |
191 |
159-223 |
1 |
263 |
263 |
-- |
-- |
-- |
|
Loblolly pine |
8 |
208 |
150-325 |
5 |
131 |
110-163 |
0 |
-- |
-- |
0 |
-- |
-- |
|
Virginia Pine |
0 |
-- |
-- |
2 |
103 |
80-125 |
0 |
-- |
-- |
0 |
-- |
-- |
|
White Pine |
0 |
-- |
-- |
0 |
-- |
-- |
1 |
70 |
70 |
0 |
-- |
-- |
|
Other sfwd |
0 |
-- |
-- |
0 |
-- |
-- |
0 |
-- |
-- |
0 |
-- |
-- |
|
Poles, hdwd
($/linear ft) |
0 |
-- |
-- |
0 |
-- |
-- |
0 |
-- |
-- |
0 |
-- |
-- |
|
Poles, sfwd
($/linear ft) |
0 |
-- |
-- |
0 |
-- |
-- |
0 |
-- |
-- |
0 |
-- |
-- |
|
Fuelwood ($/cord) |
0 |
-- |
-- |
0 |
-- |
-- |
0 |
-- |
-- |
0 |
-- |
-- |
|
Pulpwood ($/cord) |
4 |
6.75 |
6.00-7.00 |
1 |
18.00 |
18.00 |
1 |
5.00 |
5.00 |
1 |
5.00 |
5.00 |
|
Biomass ($/ton) |
0 |
-- |
-- |
0 |
-- |
-- |
0 |
-- |
-- |
0 |
-- |
-- |
Values in $/thousand board feet ($/MBF)
*Mixed low quality hardwood (pallet type
materials). On some sales, a single price may be paid.
Summary of Sale Characteristics
May-August 2002
|
Size |
# sales |
% of sales |
Type |
# sales |
% of sales |
Reported
by |
#
reporting |
%
reporting |
|
<50 MBF |
9 |
36 |
Lump sum |
18 |
72 |
Consulting forester |
5 |
56 |
|
51-100 MBF |
3 |
12 |
Mill-tally |
6 |
24 |
Public lands foresters |
2 |
22 |
|
> 100 MBF |
12 |
48 |
No data |
1 |
4 |
Industrial foresters |
2 |
22 |
|
Unknown |
1 |
4 |
|
|
|
Independent |
0 |
0 |
|
|
|
|
|
|
|
Logger/buyer |
0 |
0 |
|
|
|
|
|
|
|
CFM state foresters |
0 |
0 |
|
|
|
|
|
|
|
Utility
foresters |
0 |
0 |
|
|
|
|
|
|
|
Unknown |
0 |
0 |
|
Buyer/seller |
# sales |
% of sales |
Location of sales |
# sales |
% of sales |
|
Buyer |
2 |
8 |
Eastern Shore |
8 |
32 |
|
Seller |
22 |
88 |
Southern |
10 |
40 |
|
No data |
1 |
4 |
Central |
2 |
8 |
|
|
|
|
Western |
5 |
20 |
|
|
|
|
Unknown |
0 |
0 |
For more information:
This report is available online at www.naturalresources.umd.edu
A list of licensed professional foresters is available from your local state
forester or by calling Maryland Department of Natural Resources Forest Service
at 410-260-8531 or by visiting their website at www.dnr.state.md.us/forests/oflists/caif.html
Call the Delaware Forest Service at 302-739-4811 for a list of Delaware Foresters
Visit the Maryland Cooperative Extension website at www.agnr.umd.edu/ces/cooffices.html
Maryland Cooperative Extension
provides educational publications and workshops that can be of great value to
forest landowners considering a timber harvest. Check www.agnr.umd.edu/ces/pubs/home.html
For more information write or call the Wye Research and Education Center, P.O.
Box 169, Queenstown, MD 21658 / 410-827-8056 or Western Maryland Research and
Education Center, 18330 Keedysville Road, Keedysville, MD 21756 / 301-432-2767
Penn State Cooperative Extension also provides a stumpage price report that
is available online and is of value to counties that border Pennsylvania. Check
www.cas.psu.edu/docs/casdept/forest/tmr/tmr.htm
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