2023 Alabama timber market update

By Cole Sikes
The Cullman Times
January 31, 2023
Category: Business & Politics
Region: United States, US East

The new year brings new economic territory for Alabama’s forest industry. …Adam Maggard, an Alabama Cooperative Extension System forestry specialist shares an update for the timber market. The forest industry contributes approximately $28 billion to Alabama’s total economic output. More than 44,141 jobs help achieve this output, ranking Alabama in the top three nationally in timber production. Maggard said Alabama is still dealing with an oversupply of timber. In terms of softwood timber–mostly pine–this supply has negatively impacted an increasing demand for many of its products. It has also led to uncertainty among landowners about when they should see improvement. Maggard believes … there are some important cues to study. These include stumpage trends, the housing market, mills & capacity, and policy & trade. Overall, Maggard said Alabama’s timber industry is strong. Although the housing market is likely to be volatile through much of 2023, the demand trajectory has been on the rise for timber products.

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