Twice per year, a report of timber prices is published by the Illinois Field Office of the National Agricultural Statistics Service in cooperation with the Illinois Department of Natural Resources - Division of Forestry. These agencies survey timber buyers and forestry consultants to determine both stumpage prices (paid by timber buyers to timber sellers) and F.O.B. Mill prices (paid by sawmills to timber buyers). This data is collected for sawtimber (17 species), veneer (4 species), cooperage, and pulpwood. The data is reported for November through February and for May through August.
Illinois Timber Price Reports Illinois Timber Prices (1978-2015) Illinois Timber Prices (2018) Illinois Timber Prices (2018-2019)
These charts show the average prices paid for red oak, white oak, black cherry, and black walnut stumpage over the ten year period from 2002 through 2012 (horizontal axis). The vertical axis indicates the dollars per thousand board feet; placing a decimal point before this number converts it to dollars per board foot, i.e., 450 indicates $450 per 1,000 board feet or $0.45 per board foot.
This first chart displays the prices paid to timber owners (stumpage) for the four species of (sawlogs or) sawtimber.
This second chart displays the prices paid to timber owners (stumpage) for the four species of veneer logs.
Notice that the 2007 - 2008 financial crisis, economic slowdown, and housing meltdown impacted timber prices significantly. While walnut prices have recovered, white oak prices are struggling to reach their 2007 peak, red oak prices have slipped, and cherry prices have slumped. There is an anomaly when comparing 2002 to 2012 prices for walnut - veneer prices have risen by 5% per year on average, while sawtimber prices have risen by 7% per year on average. In comparison, white oak veneer versus sawtimber gains were 4% and 5% per year.