On the marketing front there is more good news. Marked growth in U.S. hardwood harvests and lumber production have been recorded over the past four decades (although a sharp decline in lumber production has occurred over the past three years), hardwood stumpage and lumber prices have been rising in real terms, and international demand for North American hardwood logs and lumber is on an upward trend.

 

The news is not all positive, however, and there are indications that challenging times may lie ahead for the North American hardwood timber based sector. With respect to expanding forest area and increasing growing stock and sawtimber inventories, rates of increase have slowed appreciably in all areas in recent years, and growing evidence points to a likely reversal of all of these trends over the next four to five decades.

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