Publication Details

Changes in walnut and other hardwood markets: 1990-2010

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Luppold, William G.; Bowe, Scott

Year Published

2013

Publication

In: Van Sambeek, J.W.; Jackson, Elizabeth A.; Coggeshall, Mark V.; Thomas, Andrew L.; Michler, Charles H. eds. 2013. Managing fine hardwoods after a half century of research: Proceedings of the Seventh Walnut Council Research Symposium; 2011 August 1-3; Madison, WI. Gen. Tech. Rep. NRS-P-115. Newtown Square, PA; U.S. Department of Agriculture, Forest Service, Northern Research Station: 2-10.

Abstract

After a decade of record demand in the 1990s, production and price of hardwood lumber declined moderately between 1999 and 2005 and then plummeted between 2005 and 2009. The decline in hardwood lumber price affected all species. However, walnut was the last species to decline in price, starting in 2007, and has had the largest price increase since hitting its low point in early 2010. The most obvious factor affecting walnut lumber price is the export market. As exports of walnut lumber declined in the 1990s, walnut lumber price was surpassed by that of black cherry and hard maple. As export and domestic demand for these species began to decline in the 2000s, walnut re-emerged as the highest priced U.S. species. While lumber exports have a considerable impact on lumber price, walnut log exports appear to have even a greater impact on saw log and veneer log prices. Walnut products exported to China increased in the late 1990s, rising from less than $0.2 million in 1996 to more than $10.5 million in 2000. By 2007, China had become the largest export market for walnut logs and Canada had become the largest international market for walnut lumber and veneer. Exports will remain an important aspect of the walnut market if the value of the dollar continues to decrease and demand by China and other countries continues to increase.

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Citation

Luppold, William G.; Bowe, Scott. 2013. Changes in walnut and other hardwood markets: 1990-2010. In: Van Sambeek, J.W.; Jackson, Elizabeth A.; Coggeshall, Mark V.; Thomas, Andrew L.; Michler, Charles H. eds. 2013. Managing fine hardwoods after a half century of research: Proceedings of the Seventh Walnut Council Research Symposium; 2011 August 1-3; Madison, WI. Gen. Tech. Rep. NRS-P-115. Newtown Square, PA; U.S. Department of Agriculture, Forest Service, Northern Research Station: 2-10.

Last updated on: June 27, 2013