Log prices and Markets Based on Division of Forestry Direct Sales
By Christopher Gonso
So far in fiscal year 2024-2025, Indiana Division of Forestry (DoF) has sold about 1.21 million board feet in 44 unique, merchandised log sales grossing about $845,600 in an effort made possible by the purchase of harvesting equipment.(1) The sales of loaded logs were made from late September 2024 through June 2025 in groups arranged by commodity or species categories, for example: low grade, mixed grade, crosstie, white oak grade, stave and veneer.
These sales offer insight into recent Indiana timber prices and may be relevant to Hoosier private landowners interested in marketing their hardwood resource. However, landowners should be aware that markets for Indiana timber are constantly changing, and besides overall economic and broader market conditions are dependent on an individual buyer’s needs at the time, transportation costs, and very specific regional preferences for species quality among other factors. Moreover, while most private forestland owners will sell standing timber “stumpage” for a board foot price that bears an implied cost of logging and hauling, the sales described here are exclusive of logging costs but include hauling costs from Morgan-Monroe Forest. Thus, prices below are not directly comparable to stumpage prices in the Indiana Consulting Foresters Price report or delivered log prices that may be available at Indiana sawmills buying gate logs.
Figure 1 shows Grade log, Crosstie log and Low-Grade log sales information. Each log sale contained a unique group of logs and buyers were able to inspect the piles in addition to examining detailed sales notices regarding specific species mixes too detailed for this article. A description of the sales’ majority of species by volume is provided for all sales and for certain sales the exact species breakdowns are provided. Generally, logs sold as “Grade 1” are at least 16 inches and above in diameter on the small end with 2 sides clear of defect. Logs sold as “Grade 2” are less than 16 inches in diameter on the small end with at least 2 sides clear of defect. More information about bidding on Indiana Division of Forestry timber sales and log sales is available on www.inforestryx.com. Figure 2 shows similar information for veneer, stave and other markets.
28 unique companies bid on Division of Forestry sales. There were 136 total bids submitted across all sales. 15 unique companies submitted winning bids on 44 sales. Almost all sales were won by competitive bidding, and markets seemed to show an increasing average bid price per board feet in most market segments even in an overall down time for the hardwood industry facing economic uncertainty at home and abroad.
All the information for this analysis was provided by the Division of Forestry staff. The Department of Agriculture would like to thank the Division of Forestry for sharing this information publicly. As it continues, the opportunity for more meaningful comparisons and trendline forecasting will increase.
Figure 1: Division of Forestry Log Sale Results: Grade, Crosstie & Low-Grade markets
Footnotes:
(1) Volume figure includes low grade material sold by the ton and converted to board feet through a standard equation.
(2) Species listed make up more than 50-90% of volume and are listed in order of amount, unless otherwise noted.
Christopher Gonso is a Hardwoods Program Manager for the Indiana State Department of Agriculture.
Figure 2) Division of Forestry Log Sale Results: Veneer, Stave & Other markets