According to Pope Resources, a leader in the timber sector, has realised an improved overall average price for Douglas fir and whitewood sawlogs in comparison to the previous quarter – though the data was veiled by the simultaneous improvements of lower-valued species mix. For the quarter ended March 31, 2017, the company recorded a net income of US$3.4 million, and on revenue, US$17.3 million, as compared to a loss in the first quarter of 2016, where the company posted a net loss attributable to unitholders of US$1 million on revenue of US$11.1 million.
“Our overall average log price realisations improved slightly compared to the previous quarter, with lower-valued species mix masking improvements in the markets for Douglas fir and whitewood sawlogs,” President and CEO of Pope, Tom Ringo, said. “We trace this improvement in log markets to reductions in log supply caused by unusual amounts of rain and snow in our Pacific Northwest operating region, combined with incremental demand due to market expectations of pending duties on Canadian lumber imports.”
Sources: Woodworking Network, Pope Resources