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Forest Products Laboratory
One Gifford Pinchot Drive
Madison, WI 53726-2398
Phone: (608) 231-9200
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Title: The stumpage market impact of timber utilization research

Source: Forest Prod. J. Volume 37, Number 6, 1987; pp. 54-60.

Author(s)Skog, Kenneth; Haynes, Richard

Publication Year: 1987  View PDF »

Category: Journal Articles

Abstract: Future price and harvest levels will be altered in stumpage markets as wood utilization innovations developed by research in the 1970s are adopted. We estimated the stumpage price and harvest changes that could result from adoption of seven wood utilization improvements which were recently projected by Hay-green et al. (3). Using the Timber Assessment Market Model, we project that the main effect of moderate industry adoption of these innovations would be to reduce softwood stumpage prices by as much as 40 percent and increase hardwood stumpage prices by as much as 90 percent by the year 2000, while changing softwood and hardwood harvest by only -8 percent and +7 percent, respectively. These changes are in comparison to what prices and harvest of softwood and hardwood stumpage would be in 2000 if innovations from 1970s research were not adopted. We estimated a greater technology-induced decrease in total value of timber harvest than was estimated by Haygreen et al. That is, Haygreen et al. may have underestimated the savings in timber value resulting from 1970s research. Our analysis suggests that research, development, and adoption of wood utilization innovations may be an effective way to alter prices in future forest products markets. These efforts can complement efforts that change conditions in forest products markets by expanding timber supplies through increased regeneration and growth of natural and genetically improved trees.

Keywords: stumpage market; timber utilization; economics

Publication Review Process: Non-Refereed (Other)

File size: 447 kb(s)

Date posted: 07/18/2014
RITS Product ID: 67967
Current FPL Scientist associated with this product
Skog, Kenneth E.
Supervisory Research Forester

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