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Title: Chip prices as a proxy for nonsawtimber prices in the Pacific Northwest.
Author: Haynes, Richard W.;
Source: Res. Note PNW-RN-537. Portland, OR: U.S. Department of Agriculture, Forest Service, Pacific Northwest Research Station. 25 p
Publication Series: Research Note (RN)
Description: The heavy focus on Pacific Northwest saw-log prices makes it difficult for land managers to develop price expectations for stands that contain both sawtimber and nonsawtimber logs. This raises the question: What is a reasonable proxy (or measure) for nonsawtimber prices in the Pacific Northwest? One such proxy is export chip prices, which serve as a reasonable measure of value in three ways. First, they reflect the underlying trends in all chip markets. Second, they reflect expected patterns of market arbitrage. Third, they help to explain seasonality and cyclical variation in the chip market.
Keywords: Prices, stumpage, nonsawtimber, sawtimber, proxy, chip prices
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Haynes, Richard W. 1999. Chip prices as a proxy for nonsawtimber prices in the Pacific Northwest. Res. Note PNW-RN-537. Portland, OR: U.S. Department of Agriculture, Forest Service, Pacific Northwest Research Station. 25 p
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