This paper uses hedonic regression techniques to analyze timber bid transactions in central Georgia. Softwood stumpage prices from pay-as-cut transactions are regressed against timber sale and stand characteristics. We identify observable factors that are statistically associated with the volatility of pine sawtimber stumpage prices in the market. The remaining price volatility, defined as market risk, characterizes undiversifiable price volatility in the market. Isolating market risk in this way has implications for relative price risk across predefined timber markets. Applications of this these techniques suggest that analyzing market price variability with total measures alone, such as standard deviation, may provide false senses of timber price risk.

This study evaluates the potential gains from shared log trucking resources in a region with unconsolidated logging activities. This effort tracked 18 log trucks from three independent logging companies and six logging sites to 15 destinations over 5 days. We simulated a centralized dispatch system using actual inventory and loading/unloading data from the field study and incorporating constraints to manage hours worked and truck flows per tract. Results indicated the same volume of wood could be delivered with 0.92 fewer hours (55 minutes) per truck per day and 36 fewer miles driven per truck per day, with estimated daily cost savings for the 18-truck system of $500–750/day.

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This research introduces a framework for tracking the state of the forest industry and relative competitiveness at the local level and applies it to the state of Georgia. Key insights highlight how localized forestry and forest industry profiles indicate where wood demand and suppliesare in and out of balance on an annual basis. Alternately, localized profiles that emphasize physiographic regions may not correspond well with traditional wood procurement areas. More importantly, ongoing tracking of wood supply viability and competitive analysis must distinguish between timber markets (stumpage, forest inventories and removals, and growth) and end product commodity markets (lumber, pulp, oriented strand board, and plywood). Mills, like forests, are not uniformly distributed throughout a state, whether measured by size, type, or end product. Tracking the forest industry in a localized, annual manner can support ongoing planning, investment, and policymaking activities in a targeted and efficient manner.