base projections—48 percent for inventories in 2030 (fig. 
4.15). The increase in net annual growth is 1.3 billion cu- 
bic feet, less than half the total potential. The increases in 
inventories and in net annual growth are concentrated on 
the other private ownerships. This means that the bulk of the 
economic opportunities on forest industry lands have been 
implicitly included in the base projections. 
As a result of the increase in inventories and harvests, 
stumpage prices for sawtimber and pulpwood in the South 
are reduced below the base and substantially so for pulp- 
wood. In addition, prices for softwood sawtimber stumpage 
are lower in the western sections, especially in the Pacific 
Northwest. Softwood lumber prices are also down. 
In response to the lower prices, softwood lumber produc- 
tion in the South rises and by 2030 is 2.5 billion board feet 
above the base. Softwood plywood production and consump- 
tion of softwood plant byproducts are also up, but consump- 
tion of softwood roundwood pulpwood is down slightly. 
Billion cubic feet 
175 
150 
125 
100 
75 
50 
1990 2000 
Softwood lumber imports in 2030 are reduced by about 0.8 
billion board feet from the base projections. 
A substantial part of the economic opportunities involve the 
conversion of mixed pine—hardwood or hardwood stands to 
pine plantations or the establishment of pine plantations af- 
ter harvest. As a result, hardwood inventories in the South 
are reduced from the base by over 30 billion cubic feet by 
2030. Most of the decline is in the Southeast. There is an 
associated increase in hardwood stumpage prices, by 65 per- 
cent by 2030 in the Southeast. There is a related decrease 
in production of hardwood lumber and in consumption of 
hardwood pulpwood. 
In response to increased production of softwood lumber 
and plywood, employment and wages and salaries in the 
lumber and wood products industry are 14 percent above the 
base levels. Investments in plants and equipment in the in- 
dustry are also somewhat higher. In addition, State and lo- 
Economic opportunities 
on private timberland 
SATS 
2010 2020 2030 
Figure 4.15—Projections of softwood inventories on private ownerships in the South, with and without utilizing the economic 
opportunities on private timberland 
223 
