Q4 Forisk News

Welcome to the Q4 edition of the Forisk News

Since the previous Forisk News went to press, the Forisk team presented research, participated in podcasts, and delivered workshops on timber market analysis, pulp mills and wood fiber markets, timberland investments, and mill capital investments to audiences and conferences in Alabama, Florida, Georgia, Oregon, South Carolina, and Virginia.

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Save the Date! Forisk's Applied Forest Finance Class will be held on February 23, 2027

Taught publicly once per year by Brooks Mendell, this live virtual class details the step-by-step financial analysis required to answer key investment and forest management questions. Attendees will learn how to identify, value, and rank timber and forestry investments.

Attendees receive digital copies of the updated Forest Finance Simplified handbook and the Aunt Fanny Learns Forestry book, as well as electronic reference materials and Excel models for reinforcing and applying the concepts learned during the course.

Registration will open in December!

This class qualifies for 6.0 Hours of Continuing Education credit for the following: CFE (Forestry), CLE/MTH (Georgia Master Timber Harvester / Logger), CPE (Accountancy), and Georgia Real Estate/ Appraisal.

Details are available here.

Select Findings from the Q4 Forisk Research Quarterly (FRQ) Report

The Q4 2026 Forisk Research Quarterly (FRQ) includes industry analysis and market forecasts through 2035 for timber prices, logging costs, lumber and panel production, paper and paperboard, forest supplies, and wood bioenergy markets.

Forisk’s featured research examines the viability of new markets for wood fiber competition. Which technologies are more likely to shrink the gap left by closed mills in the near term? Specifically, which wood fiber segments, outside of the traditional pulp and OSB sectors, could consume an incremental one million tons of low-value fiber in the next three years?

Q4 2026 AT A GLANCE

Single family housing starts decreased 4.0% in Q3 relative to last year, while multifamily starts increased 5.5%.
North American softwood lumber production rose 9% quarter-over-quarter but fell 2% year-over-year through Q2 2026. Through August, year-over-year U.S. softwood lumber imports declined 14% and hardwood lumber was flat.
Southern stumpage prices decrease 5.5% in the U.S. South for 2026 while pulpwood prices fall 14%. In the Pacific Northwest, domestic Douglas-fir and hemlock prices increased in Q3 2026.

OTHER HIGHLIGHTS

Special Research Featured in the Q4 FRQ Report

Featured Research: Viability of New Markets for Wood Fiber Consumption

Our featured research evaluates potential markets for low-value wood fiber products. Which technologies are more likely to shrink the gap left by closed mills in the near term? Specifically, which wood fiber segments, outside of the traditional pulp and OSB sectors, could consume an incremental one million tons of low-value fiber in the next three years?

Market Update, Q4 2026: In this edition of quarterly observations and summary analysis of forest industry trends, we first check the relationship between interest rates and timberland values. Then, we review the numbers connecting immigration and housing markets. Finally, we share the next “Reading the FRQ” guide.

Forisk Facts & Figures: Forisk’s quarterly “story in three slides” presents findings from Forisk’s silviculture survey program. Western managers lowered planting densities and are thinning less, previewing changes under consideration by southern managers. Western silviculture spending per acre fell in Coastal Washington and the Inland/East and returned to 2018 levels in Coastal Oregon.

To learn more about the Forisk Research Quarterly (FRQ) subscription, click here or contact Nick DiLuzio (ndiluzio@forisk.com).

Forisk in the News

Forisk article “Avoiding the Dumb Choice when Investing in Timberlands” featured in LandThink
Forisk interviewed regarding wood supply chain evolution for Episode 2 of the FRA “Woods to Mill” Podcast
Forisk Research Release, Oct. 14, 2026: FRQ Examines New Demand for Pulpwood and Residuals and Highlights Western Silviculture Survey Results
Forisk Research Release, Sept. 24, 2026: Wood Fiber Markets Struggle with Pulpwood and Residuals in Q3
Forisk Research Release, Sept. 9, 2026: Southern US Sawmills Expand While Canadian Sawmills Close

Updates from Forisk

November 10: Shawn Baker will speak at the Georgia SAF/ACF joint meeting in Macon, GA
February 23, 2027: Forisk's Applied Forest Finance Class will be held virtually
February 26, 2027: Brooks Mendell will speak at the Southern Pressure Treaters' Association Annual Meeting in Point Clear, AL

Recent Highlights from Forisk's Blog

Follow the links below to read Forisk's recent analysis related to timberland ownership, mill investments, and wood fiber prices. Click here to go directly to Forisk's blog page where you can sign up to get notified about new posts!

Forisk Research Quarterly Examines New Demand for Pulpwood and Residuals and Highlights Western Silviculture Survey Results

The Q4 edition of the Forisk Research Quarterly (FRQ), to be published in November 2026, examines future sources of demand for pulpwood and residuals. It also analyzes silvicultural practices in the Pacific Northwest. Both are directly relevant to timberland investors, managers, and manufacturers.

Feature Article: Fiber Consumer Market Review

The featured research in the Q4 FRQ classifies and examines new demand for pulpwood and residuals from announced projects. The analysis identifies which emerging and growing fiber consumer segments will consume an additional one million tons of wood in the next three years. Which sectors and industries are most likely to fill (part of) the gap left from closed mills in the short term?

"Recent pulp mill closures and subsidy changes in the pellet industry reduce markets for pulpwood harvests and forest product manufacturing residuals," said Amanda Lang, one of the lead authors. "Forisk has been tracking wood bioenergy projects since 2008, and we leveraged that experience to screen announced projects in growing fiber consumer segments. This supports timberland owners and manufacturing firms seeking new outlets for pulpwood and residuals to improve profitability."

Forisk Facts and Figures: Western Silviculture Survey Results

Results from our fifth Western Silviculture Survey headline this quarter’s Forisk Facts and Figures - Forisk’s quarterly ‘story in three slides’. The 2026 survey gathered data on over 8 million acres of privately-owned timberland from California to Montana. Results highlight regional variation in silviculture expenditure and declining trends in common prescriptions. "We've seen consistent reductions in pre-commercial thinning on private Western timberlands since our first survey in 2017," said Shawn Baker, the lead researcher on the project. "The results show where the industry is investing to sustain forest production."

For more information or to subscribe to the Forisk Research Quarterly – which includes on-call client support, sector-level analysis, price forecasts, mill updates, timberland transaction data, and access to Forisk’s Custom Market Forecast – visit www.forisk.com or contact: Nick DiLuzio, ndiluzio@forisk.com, 770.725.8447.

About Forisk Consulting: Forisk delivers forecasts and analysis of forest industry markets and timberland investments. Firms participate in Forisk’s research program by subscribing to the Forisk Research Quarterly (FRQ), the Forisk Wood Fiber Review, or the North American Forest Industry Capacity Database; supporting benchmarking studies related to forest operations and mill capacities; and attending educational workshops. www.forisk.com.

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Tuesday, November 10, 2026

Q4 Forisk News Newsletter