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Mid-way through a ninth year of increasing housing starts and growing lumber consumption, timberland investors and forest owners in the U.S. South continue to struggle with flat and, in certain local markets, falling sawlog prices. Previous posts discuss how this more…
This is the third in a series related to Forisk’s Q4 2016 forest industry analysis and timber price forecasts for North America. What is a tree worth? For timberland investors, the value of a tree is determined by the returns more…
This is the first in a series related to Forisk’s Q4 2016 forest industry analysis and timber price forecasts for the United States and Canada. Each quarter, when updating models for the Forisk Research Quarterly (FRQ), we revisit prior projections more…
This is the first in a series related to Forisk’s Q3 2016 forest industry analysis and timber price forecasts for the United States. Each quarter when updating our Forisk Research Quarterly (FRQ) forecast models, we revisit prior projections and review more…
Aunt Fanny sighed loudly and kicked the dirt. A pinecone ricocheted off a nearby white oak before landing in a mound of dirt and leaves. Two dogs barked in the distance. “Nephew, I have a few thoughts regarding the value more…
Want a simple method for valuing stocks and income earning real estate or timberland? Consider the Dividend Discount Model by dividing next year’s income, assuming it will be earned annually in perpetuity, by a constant discount rate or cost of more…
In 2011 for the second consecutive year, Forisk’s localized pine sawtimber forecast hit within 4% of actual on average at the state-level. South-wide, Forisk’s regional pine sawtimber average of $26.57 per ton exceeded Timber Mart-South’s actual price of $23.97 for more…
What are the wood supply and timber market implications from emerging bioenergy demand? We just published a white paper on this topic commissioned by the National Alliance of Forest Owners (NAFO). The research was motivated by concerns about potential impacts more…
When studying exchange rates and currency markets, I sometimes think of the old joke “the quickest way to double your money is to fold it in half and stick it back in your pocket.” Currency markets shake more than more…
Last week, I met with the CEO of one of world’s largest forest management and consulting firms. We ended up discussing a mutually perplexing question, “why do some timberland investors prioritize macro issues like housing at the expense of understanding more…