A Method for Estimating the Multi-Product Value of Hardwood Timber Stands

Methodology for appraising the multi-product value of hardwood timber stands is presented. Any valid sampling system and set of log grading rules may be used when applying this method. Field trials of this methodology were conducted in six Lake States’ stands with resultant appraisal information evaluated under four product sorting intensities. In each stand, estimated delivered product value increased as the level of roundwood product sorting increased. From a pulpwood only harvesting scheme to a fully sorted roundwood harvest, estimated delivered product value per acre increased by an average of 25 percent for the six stands. Although average value per acre for all stands was further increased 46 percent by chipping residual material, value per cord decreased in two stands and increased by only a small amount in the other stands. As sorting intensity increased, stands with a high aspen component generally did not show as great an increase in delivered product value as stands where other hardwood species made up a large percentage of the total volume. While estimated delivered product value was increased by allocating each section of a tree to the highest valued product, higher costs will likely be incurred while producing this material. The extent of these increased costs is presently being studied.

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