An Examination of the Relationship between the Conservation Reserve Program and Stumpage Prices in the South
Abstract
Declines in stumpage prices have been linked to the Conservation Reserve Program,
which may have influenced overall planting volume, and thus, supply, in the South
since inception in 1986. This project investigates historic trends in planting volumes
across private, industrial, and public dimensions in the 20th century and reports
key findings on the relationship between those developments and shifts in demand and
volatility in stumpage prices. Results indicate that (1) variation in pine sawtimber
stumpage correlates more to demand drivers than acreage planted while (2) pine pulpwood
stumpage prices are more correlated to acreage planted than to shifts in demand. While
these results illuminate the overall impact of acreage planted on stumpage prices,
additional findings indicate that the Conservation Reserve Program did not meaningfully
contribute to an oversupply over operational inventory in the South
Type
Master's projectDepartment
Nicholas School of the EnvironmentPermalink
https://hdl.handle.net/10161/24901Citation
Smith, Cullen (2022). An Examination of the Relationship between the Conservation Reserve Program and Stumpage
Prices in the South. Master's project, Duke University. Retrieved from https://hdl.handle.net/10161/24901.Collections
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