U.S. South Historical Valuation Snapshot
Pacific Northwest Demand & Pricing Trends
(BBF) (1)
14.0
Pacific Northwest Log Demand & Pricing
12.0
10.0
8.0
6.0
4.0
2.0
($ per MBF)
$1,200
$1,000
$800
$600
$400
I
Q3-2012
Q1-2013
Q3-2013
Q1-2014
Q3-2014
Q1-2015
Q3-2015
Q1-2016
Q3-2016
Q1-2017
Q3-2017
Q1-2018
Q1-2007
Q3-2007
Q1-2008
Q3-2008
Q1-2009
Q3-2009
Q1-2010
Q3-2010
Q1-2011
Q3-2011
Q1-2012
West Coast Lumber Production
Douglas-fir Log Price (Log Lines Region #1 - #2 Sawlog)
Q3-2018
Q1-2019
Q3-2019
Q1-2020
Q3-2020
Q1-2021
Q3-2021
Q1-2022
Q3-2022
Log Exports (Lumber Basis)
(2)
Q1-2023
Western Hemlock Log Price (Log Lines Region #1 - #2 Sawlog)
$200
Pacific Northwest pricing remained strong in 2022 due to strong domestic lumber markets
and continued export market demand.
(1)
(2)
Rayonier
Source:
Production and export volume based on trailing four quarters.
Log exports converted to lumber basis assuming 2.35 recovery rate.
Forest Economic Advisors, RISI.
Investor Presentation | May 2023
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