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This post includes themes from the (virtual) Applied Forest Finance course on April 3rd, 2025. Early registration ends March 20th! The investable universe for institutional timberland in the U.S. is modest compared to markets for stocks, bonds, currencies, or real more…
Between reporting on artificial intelligence and the Luka Doncic trade to the LA Lakers, news leaked about potential U.S. tariffs on imports from Canada. While headlines screamed – see the January 31st The Wall Street Journal editorial “The Dumbest Trade more…
When localizing forest supplies, mill capacities, forest operations, and pricing, each timber market produces a unique profile. This uniqueness highlights how timberland valuations, wood procurement strategies, and forest management plans get customized to optimize the market and company assets. Recently, more…
Recently, at the CANOPY forestland investment conference in Portland, I participated on a panel about pulpwood markets in the U.S. South. While the region enjoys abundant forest resources and dozens of new wood-using mills, it has also seen the closure more…
This post includes data from Forisk’s Timberland Transactions Database and research from the Forisk Research Quarterly. We recently reviewed timberland transaction volume going back to 2014. We noted that 2023 was a slow year with just over 1 million more…
This post includes excerpts from the Q2 2024 Forisk Research Quarterly (FRQ) feature article, “Topics on Forest Finance: Investment Criteria and Timberland Liquidity” and from the forthcoming 7th edition of Forest Finance Simplified. Liquidity – the ability to convert assets more…
This post introduces research and topics that will be addressed in the Q2 2024 Forisk Research Quarterly (FRQ), which includes forest industry analysis and timber price forecasts for North America. Good questions clarify our context, risks, and options. Well-structured questions more…
This post includes themes and topics that will be addressed in the (virtual) Applied Forest Finance course on March 14th, 2024. Early registration ends February 29th! Timberland values, like those of commercial real estate and farmland, derive from their abilities more…
Timber Market Analysis offers an organized, systematic way of (1) specifying a question related to forest industry investments or operations; (2) gathering and evaluating fundamental wood supply and demand information; and (3) using this to answer the question as best more…
Investing in wood-using mills and timberlands requires having a strategy about how to “feed” the mill or how to “market” the trees. These efforts raise questions about the relative value of vertical integration, where one firm owns mills and forests, more…