Timber sale prices are influenced by multiple tract, product, and transaction characteristics. This study evaluates the effects of species composition, product class, sale method, harvest type, timber quality, and average tree diameter on timber stumpage prices using timber sale records from Alabama between 1 January 2010 and 31 December 2019. Prices were modeled on a per weight unit basis using a generalized linear model with a Gamma distribution and logarithmic link. Results indicate that larger average diameters were consistently associated with higher prices across most product classes. Harvest type also influenced prices, with salvage operations yielding prices approximately 8.3% lower than thinning operations. Timber quality had a moderate effect: good-to-excellent quality timber sold for about 4.8% higher prices than poor-to-fair quality timber. Sale method was an important determinant of price outcomes. Negotiated sales generated significantly lower prices than sealed-bid sales, averaging approximately 17% lower overall. However, interaction analysis revealed that negotiated sales produced higher prices for mixed hardwood sawtimber, likely reflecting the diverse end uses of these products. Regional effects were also evident, with higher prices observed in the southwestern portion of the state, likely due to proximity to the Port of Mobile and associated export markets. These findings highlight the importance of both tract and transaction characteristics in determining timber prices and provide guidance for landowners and forest managers when selecting sale strategies and management practices.
Naka et al. (Fri,) studied this question.