As our Northwest Farm Credit Services quarterly commodity snapshot series continues, we take a look at local forest products and fisheries.
“Very strong profits suggested for forest products manufacturers, and solid profits expected for timberland owners,” Bill Perry is Vice President at NWFCS. “Despite recent drops in lumber pricing, prices remain in very profitable, record territory. Log pricing modestly improved over the quarter, although at a more moderate pace than lumber pricing. Profitable log pricing is supported by record wood product demand.”
When it comes to fisheries, Perry says they expect profitable margins for commercial fishing operations.
“Robust demand is increasing pricing in several species and COVID-19 vaccines should help lower operation costs. As restaurant sales continue to improve, seafood demand is expected to see an extra boost. Therefore, seafood markets are favorable overall.”
Join us Thursday as we wrap up our series taking a look at wineries and nurseries.
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