Today we move in to a “special overtime session” of Northwest Farm Credit Services’ quarterly commodity snapshot series, as we transition to the nursery and forest products industries.
According to Bill Perry, Vice President at NWFCS, lumber processors and timberland owners are expected to be profitable.
“Record lumber prices through the second half of 2020 will likely result in strong log prices. A seasonal slowdown in construction and increased log inventories due to fires are predicted to correct the upward price trend.”
Meanwhile when it comes to the nursery and greenhouse sector, Perry said they anticipate strong profits.
“The industry has benefitted from the pandemic’s stay-at-home orders and sales have increased dramatically. A strong housing market will support continued sales. Although costs associated with COVID-19 mitigation efforts have cut into industry profits, margins are high, and operations should be in the green this year,” Perry continued.
If you have a story idea for the PNW Ag Network, call (509) 547-1618, or e-mail [email protected]