Hardwood Stumpage Price Trends and Characteristics in Connecticut

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Abstract
During the 1960s, hardwood stumpage in Connecticut was valued well below the regional average. Beginning in 1973, the hardwood stumpage market in the state began a long period of value growth due to the increasing size and quality of standing timber and the improving market for oak. Between 1960 and 1987, real stumpage prices for lots of mostly oak timber in Connecticut increased at an average annual rate of 4.6%. During the 1980s, real prices for oak increased at an average annual rate of 7.3%, while the value increase for mixed hardwoods was 2 0%. In comparison, the value of softwoods fell at an average annual rate of 2 4% during this recent period. The inflation of hardwood stumpage prices was caused by outward shifts in the demand curve and decreasing supply elasticity. If these trends continue, good financial opportunities will exist for oak management. North. J. Appl. For. 7(1):13-16, March 1990.

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