Theses and Dissertations
Advisor
McConnell, Eric
Committee Member
Sun, Changyou
Committee Member
Poudel, Krishna
Date of Degree
8-7-2025
Original embargo terms
Embargo 6 months
Document Type
Graduate Thesis - Open Access
Major
Forestry
Degree Name
Master of Science (M.S.)
College
College of Forest Resources
Department
Department of Forestry
Abstract
This study analyzed the impact of pine timber price trends on optimal rotation age and price transmission relationship in the timber market in the US South. Price trends and volatilities were incorporated into discounted cash flow analyses to determine stochastic optimal rotation age. The results revealed that negative price trends reduced the optimal rotation age and maximum land expectation values compared with the base case of the Faustmann model's constant timber prices. Also, I performed a vertical price transmission study for the US South pine timber market using a Smooth Transition Autoregressive (STAR) model. Price transmission was linear in the lower regime for the lumber-log and lumber-stumpage price ratio but non-linear in the higher regime. Asymmetric price transmission was observed in both price ratios, indicating inefficient market operations. These insights can help landowners, investors, loggers, and forest product industry stakeholders make better informed decisions in the timber market sector.
Sponsorship (Optional)
National Institute of Food and Agriculture, the U.S. Department of Agriculture, McIntire Stennis project 1025007.
Recommended Citation
Panthi, Samjhana, "Timber price trends, transmission, and the impact on loblolly pine plantation management in the United States South." (2025). Theses and Dissertations. 6688.
https://scholarsjunction.msstate.edu/td/6688
