Interpretations of Illinois Stumpage Price Trends

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Abstract
To provide insight into the timber market accessible to owners of non-industrial private forestland in the central hardwoods region, we examine Illinois statewide average stumpage prices for 16 hardwood species and 2 species composites. Over the study period, upland hardwood stumpage prices have risen faster than inflation. Swings in stumpage prices during this same period have been frequent and significant, e.g., woods-run stumpage prices for upland hardwoods have changed as much as 41% within 1 year and 75% within 2 years. The frequency of price changes suggests a predominantly buyer controlled market. Illinois forest land-owners can increase their return on investment from forestland through judicious market timing when making timber sales, and by requiring competitive bids. When Illinois timber supply data are considered with the general price trends, a picture emerges of an ongoing market advantage for the production of high-value intolerant species, such as the oaks. North. J. Appl. For. 68:115-120, September 1989.

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