Timber markets were mixed in the 3rd Quarter, with wetter conditions and the corresponding supply constraint counterbalanced by a general decrease in overall demand in the 3rd Quarter. Notably, Hurricane Helene made landfall on September 26th in the Big Bend area of the Florida Gulf Coast as a Category 4 storm. Helene brought devastating damage to Florida, Georgia, and the Carolinas. With landfall occurring at the end of the quarter, we did not see any impacts to 3rd Quarter pricing, but the damage and price implications will be assessed over the next several months.
Wood products markets declined a bit further this quarter, with prices decreasing 3% for Southern pine lumber and 15% for Southern OSB. Pulp markets also weakened, as prices declined modestly for softwood pulp and 10% for hardwood pulp in the 3rd Quarter.