Publication

Financial performance of mixed-age naturally regenerated loblolly-hardwood stands in the South Central United States

Raunikar, R., J. Buongiorno, J. P. Prestemon, and K. L. Abt

To estimate the financial performance of a nature-oriented mixed species and mixed-age management in the loblolly-pine forest type, we examined 991 FIA plots in the Central South states. The plots were of the loblolly pine forest type, mixed-age, and had been regenerated naturally. They typically included oak and hickory in a mix from 86 species of hardwoods and 9 species of softwoods. Most of the plots were on lands of small private owners, but a substantial number belonged to industry or were on public lands. we gauged the financial performance of each plot using the equivalent annual income (EAI) produced by growth and harvest, between two successive inventories. The real price EAI measured the financial performance including the real price change between surveys. The constant price EAI measured stand productivity at prices at the time of the first survey. During the period 1977-1994, the main determinant of the real price EAI was the price change. Due to an overall favorable price trend, the mean real price EAI ($138 ha-1yr-1) was much greater than the mean constant price EAI ($25 ha-1yr-1). Because of increasing prices, the best performing plots had very high stocking levels. Thus, the best financial strategy was to hold the stock, making the opportunity cost of conservation negative. Instead, constant price EAI tended to be lower on stands with high basal area, and higher in stands with many trees, a low share of hardwoods, and many trees near sawtimber size. At constant prices, the productivity of mixed-age naturally regenerated loblolly-hardwood stands in the Central South was similar to that of Wisconsin northern hardwoods.

Fiscal Year: fy01 ·  Problem Area: pa98-1 ·  Theme: cctsopin ·  Source: coop   <== Explain

Citation: Raunikar, R., J. Buongiorno, J. P. Prestemon, and K. L. Abt. 2000. Financial performance of mixed-age naturally regenerated loblolly-hardwood stands in the South Central United States. Forest Policy and Economics 1(3/4):331-346.

full-text article available in PDF (file size unknown)

Want more? Send an email to jbuongio@facstaff.wisc.edu . If you're requesting a reprint be sure your email includes the citation and your complete mailing address.

Forest Economics    and Policy

Publications ·  Search ·  Home

USDA Forest Service    Southern Research Station