Had an article sent to me today from NPR concerning the decling red oak market in West Virginina. The same applies to red oak timber in Pennsylvania. The market for red oak in Pennsylvania has declined 32% from the first quarter of 2007 (Jan-March) to the first quarter of 2008 (Jan-March). Prices fell from $390 per thousand board feet to $264 per thousand board feet.
To view the Pennsylvania Timber Market Report published quarterly by Penn State School of Forest Resources go to:
Black Times for W.Va. Red Oak Loggers (NPR, August 12, 2008)
If you own timberland in West Virginia, you've most likely got an investment in red oak and the value of your tree portfolio is falling fast. There's been a slide in prices, and now, locals say, they're "dropping off a cliff." A red oak tree — the predominant species — is worth 40 percent less than it was three years ago.
It's a fashion issue. Oak was popular in the 1980s for cabinets, flooring, furniture. Cat Caperton of Gat Creek Furniture in Berkeley Springs, W.Va., says, "Oak had the connotation of strength, longevity, country values. Nowadays, it doesn't come across as sturdy; it comes across as busy."
To read the full story go to: