Coos County took advantage of an increase in timber prices to make $2.5 million.
Coos County has been waiting for a spike in timber prices to make a sale, and this patience has finally paid off.
Though the sale came after a higher peak in prices, a Coos County commissioner said that the $2.5 million gained for the county is almost double the amount the county would have earned on the same property last year.
County commissioners said in January they were prepared to go another year without a sale if timber prices did not improve. But prices shot up in April, because of the earthquake in Chile and a shortage of white woods used for making plywood, such as spruce, Coos County Forester Bob Laport said. The county advertised from May 11 through June 8, but by the time the sale rolled around, the market was already declining.
“During that time the world changed,” Laport said. “There was a bubble caused by log inventory shortages. Things were really looking up. Now that’s peaked and headed back down.”
Read more at The World.
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