FDN Q2 Market Shifts: Michigan Sawlog Prices Drop as Wisconsin Sees Gains in 2024

Hardwood sawlog prices in Michigan and Wisconsin moved in opposite directions in the second quarter of 2024. Michigan sawlog index prices compiled by Forest Data Network dropped statewide for all species (except cherry). Meanwhile, Wisconsin hardwood and pine sawlog prices generally increased by double-digit percentages. (And cherry prices in Wisconsin hit a five-year high.)

This was a complete reversal from the same period of 2023 when Michigan sawlog prices were strong in sharp contrast with falling prices in Wisconsin.

Meanwhile, pulpwood prices were depressed almost everywhere in Minnesota, Michigan, and Wisconsin.

Limited sawlog volumes in Minnesota showed percentage price increases comparable to or greater than in Wisconsin. But the prices in the Gopher state were generally lower than Wisconsin prices. Minnesota did record some black walnut sales at a robust price as expected for that species.

Cordwood prices were generally very soft throughout the Lake States— reflecting soft demand from a paper industry that has decreased manufacturing capacity. An exception was oak cordwood, where prices were high in Michigan and Wisconsin and stable in Minnesota compared to 2023.

Pine sawlog prices were solid in Minnesota and Wisconsin despite falling construction lumber prices across the U.S. in 2024. Michigan pine prices were down statewide but within a normal 5-year range.

While home construction lagged for the quarter nationally, forest economists began to signal some paper product markets were approaching balance nationally after recent mill closures and sales.

Some regions stood out from within their states:

How did your region fare? Report subscriptions for regions or statewide are available here!

Many Northern Wisconsin regions had particularly solid hardwood sawlog prices. The Black River, Chippewa, Mississippi River, and Northern Lakes regions stood out. Meanwhile, the Sand and Northern Lakes regions showed strong pine pricing. An exception to the strong hardwood prices was the West Green Bay region.

The Minnesota regions demonstrating particular sawlog price strength were the Red River region (for pine) and Southern Minnesota for hardwood sawlogs, in general.

Meanwhile, Michigan prices showed general declines. Among the few exceptions were oak and fir prices in the Huron region.

Get a detailed look at your region or species here.