Comments on southern New England stumpage, 2^nd quarter 2005

Ø Red oak markets very weak

Ø What markets? – very difficult to expand markets – poor opportunity for diverse markets. Pine is marketed like hardwood. Aug pricing down 25-30%. Hardwood prices down 35-45%. Time to do something else.

Ø Long term oak adjustment in progress

Ø No lots present coming up for bid

Ø Oak lumber prices in a free fall

Ø Red oak to stay down for quite some time. White wood is very hot right now.

Ø White pine market is very strong – oak market has weakened.

Ø No cash but 30 cords cut for the wood (barter)

Ø Oak slump. yard filling up

Ø Red oak back up somewhat; some markets for pine and hemlock pulp are moving.

Ø No timber sales. Only land clearing.