332 



THE OUTLOOK FOR TIMBER IN THE UNITED STATES 



Table 2. — Average stumpage and lumber prices of Douglas-fir, southern pine, and ponderosa pine 1910-72 

 [Prices in constant 1967 dollars per thousand board feet, International Ji-inch log rule for stumpage and mill tally for lumber] 





Dougl 



is-fir 



Ponderosa pine 



Southern pine 





Douglas-tlr 



Ponderosa pine 



Southern pine 



Year 















Year 

















Stumpage 



Lumber 



Stumpage 



Lumber 



Stumpage 



Lumber 



Stumpage 



Lumber 



Stumpage 



Lumber 



Stumpage 



Lumber 



1910.... 



4.42 



35.98 



8.15 



39.17 



3.44 



36.53 



1940— 



4.15 



48.09 



4.47 



59.93 



9.27 



52.68 



1911—. 



5.03 



33.03 



6.15 



40.71 



6.99 



41.45 



1941 — 



5.84 



56.49 



4.75 



63.59 



20.02 



56.60 



1912.... 



4.61 



31.75 



6.10 



37.34 



3.44 



39.37 

















1913—. 



3.45 



23.89 



5.03 



32.22 



3.94 



26.94 



1947— 



9.46 



83.73 



8.93 



75.94 



11.90 



89.91 



1914— 



3.33 



23.04 



4.68 



29.87 



6.89 



47.22 



1948— 



17.56 



88.28 



14.51 



87.63 



16.54 



91.10 

















1949— 



10.31 



81.22 



18.42 



88.15 



20.91 



86.61 



1915 



5.92 



29.57 



5.75 



39.98 



4.90 



34.65 



1950— 



14.66 



96.32 



18.42 



96.57 



27.26 



93.44 



1916 



1.99 



24.44 



5.41 



32.92 



6.06 



32.49 



1951— 



20.38 



94.63 



30.36 



101. 58 



31.71 



89.94 



1917 



1.93 



26.86 



2.99 



32.32 



4.69 



31.35 

















1918—. 



1.95 



27.78 



3.29 



30.88 



3.71 



36.08 



1952.... 



21.29 



96.35 



25.47 



103. 06 



36.30 



93.44 



1919 



2.46 



34.46 



3.46 



38.84 



4.33 



40.19 



1953— 



16.90 



89.92 



24.41 



105. 49 



32.70 



93.91 

















1954— 



13.53 



91.39 



25.58 



99.70 



28.33 



89.54 



1920 



1.65 



43.43 



3.83 



48.63 



4.61 



45.06 



1955— 



24.05 



99.57 



24.47 



103. 30 



30.43 



92.85 



1921 



2.76 



35.84 



5.24 



53.55 



6.14 



38.59 



1956— 



30.40 



96.02 



24.70 



107. 16 



34.46 



93.09 



1922.... 



3.67 



41.98 



6.61 



55.66 



4.69 



47.45 

















1923.... 



3.52 



51.97 



6.18 



63.72 



4.83 



57.42 



1957— 



20.53 



83.94 



21.36 



95.05 



28.20 



86.98 



1924—. 



3.18 



43.71 



5.70 



54.89 



5.79 



52.55 



1958— 



16.84 



81.22 



16.62 



90.26 



27.45 



84.48 

















1959— 



28.38 



92.42 



17.89 



98.01 



31.01 



87.14 



1925—. 



2.88 



39.25 



5.56 



51.93 



5.01 



49.60 



1960 



24.65 



84.40 



16.57 



92.80 



30.36 



85.68 



1926... . 



3.11 



39.05 



5.90 



51.56 



5.82 



51.38 



1961 



21.35 



81.22 



10.54 



85.66 



23.68 



82.33 



1927.... 



3.71 



39.46 



5.68 



52.83 



5.93 



48.22 

















1928.— 



4.24 



38.08 



4.12 



52.75 



6.02 



49.25 



1962 



18.89 



83.37 



13.98 



87.36 



22.91 



82.00 



1929— 



4.02 



40.83 



6.04 



53.91 



5.95 



52.26 



1963— 



21.58 



86.87 



13.76 



89.02 



22.18 



81.98 

















1964... . 



29.41 



88.15 



16.52 



89.65 



24.52 



81.90 



1930.-. 



5.41 



37.93 



6.65 



52.76 



6.00 



47.24 



1965— 



32.24 



85.76 



16.88 



87.91 



27.41 



81.74 



1931— 



5.64 



32.04 



9.20 



54.46 



7.55 



45.18 



1966— 



36.62 



86.98 



16.34 



88.17 



32.30 



86.92 



1932.— 



3.70 



31.68 



6.38 



50.31 



6.97 



39.70 

















1933 



2.58 



39.88 



6.78 



54.58 



6.63 



52.64 



1967 



30.49 



89.73 



18.28 



87.04 



31.99 



86.60 



1934 



2.84 



41.77 



5.33 



53.08 



6.27 



56.00 



1968 



43.63 



105. 17 



24.25 



99.29 



34.38 



96.02 

















1969 



56.43 



110. 99 



54.89 



120. 98 



40.55 



102. 29 



1935 



3.01 



38.69 



4.79 



49.42 



9.11 



44.18 



1970— 



27.72 



88.44 



23.90 



98.59 



33.46 



89.81 



1936 



3.69 



42.42 



4.35 



52.40 



10.23 



49.83 



1971 



31.51 



108. 40 



27.71 



112. 65 



38.32 



101. 73 



1937 



2.63 



44.22 



4.07 



55.14 



9795 



49.86 

















1938 



4.51 



42.66 



5.08 



54.83 



15.05 



46.91 



1972 



43.99 



121.74 



45.47 



127. 63 



46.06 



110. 15 



1939— 



4.04 



45.03 



4.97 



57.20 



12.18 



49.53 

















Source: Row, Clark. Probabilities of financial returns from southern pine 

 timber growing. Ph.D. dissertation. Tulane Univ., New Orleans. 1973. Data 

 presented are based on information from the following sources: Douglas-fir 

 stumpage, 1910-31 National Forest timber sales, all species Washington and 

 Oregon; 1932-41, all species western Washington and western Oregon; 1947-56, 

 National Forest and Bureau of land Management sales, Douglas-fir only in 

 western Washington and western Oregon; 1957-72 National Forest sales, 

 Douglas-fir only in western Washington and western Oregon. 



Southern pine stumpage, 1910-34 prices of privately owned second-growth 

 southern pine timber; 1935-49 National Forest timber sales, all species; 

 1950-72 National Forest sales, pine only. 



Ponderosa pine stumpage, 1910-72 National timber sales, California. 



Lumber prices, Forest Service estimates based on data published by the 

 Bureau of Labor Statistics, the western Wood Products Association, and 

 unpublished information collected by the Forest Service's Division of Timber 

 Management. 



Note: All U.S. Forest Service National Forest prices in this table are the 

 bid prices (including KV payments) for timber sold on a Scribner Decimal C 

 log rule basis and adjusted, using a mathematical model developed by the 

 author, to International !i-inch log rule units comparable to sawtimber 

 removals. Prices exclude timber sold by land exchanges and from land 

 utilization project lands. 



