NWFC Expects Good Year For Nursery, Fisheries, Forest Products Sectors

As we start our six-part Northwest Farm Credit Services quarter commodity snapshot series today, we look at Forest Products, Fisheries and Nurseries. Bill Perry, executive Vice President at NWFCS says their 12-month outlook expects fisheries to be profitable.

“While fisheries face challenges with changing TACs, a closed king crab fishery and potential COVID-19-related lockdowns in 2022, consumers continue to demand seafood and prices are strong for all products.”

Meanwhile, he noted the outlook foresees forest product manufacturers as very profitable and timberland owners as profitable.

“After an avalanche in pricing, lumber has regained its footing and is trending solidly upwards. Log prices have held relatively constant from a sharp rise in pricing early in the quarter. Overall, the forest products industry is set to benefit from strong housing demand in 2022.”

And when it comes to the Nursery/Greenhouse industry, Perry anticipates profits.

“Growers continue to benefit from a robust housing market and increased interest in landscaping and gardening. Rising input costs and labor scarcity are pressuring margins and limiting production capacity; however, consumers are showing a willingness to pay higher prices and growers have improved their efficiency.”

Join us Tuesday as our series continues when we turn our attention to the Northwest tree fruit industry.

If you have a story idea for the PNW Ag Network, call (509) 547-1618, or e-mail gvaagen@cherrycreekmedia.com