We are delighted to present the Summer 2019 Bidwells Timber Price Database.
Private sector coniferous timber price database covering the period 1 October 2018 to 31 March 2019.
Following dramatic increases in standing timber values seen between late 2017 and early 2018, results from sales agreed during the period 1 October 2018 to 31 March 2019 suggest that prices remained fairly stable at the comparatively high levels which had been experienced since late 2017.
The latest results, however, are based on returns from only 59 transactions, totalling just over 206,000 cubic metres of timber with a standing value to the grower of approximately £8.1 million.
As such, this is a small sample on which to base conclusions. What was clear during the reporting period was that demand from processers remained high as did standing prices paid to growers but, as ever, things change!
Windblow and the high incidence of timber affected by bark beetles on Continental Europe (possibly as a result of the hot, dry conditions of summer 2018) has produced a glut of imported timber looking for a home.
UK sawmillers in particular have come under pressure in terms of both price and demand for their finished products in light of this flood of imports, which has inevitably led to lower demand and price for home grown standing timber. This effect is not demonstrated in these results and should be a temporary phenomenon until European timber harvesting rates return to a more normal footing. Fundamentals of the UK industry remain sound and should (despite the ongoing Brexit situation) give all connected with timber real confidence for the future.
Thanks to all who contributed to this report by providing data on sales, but with returns at just over one quarter of those provided for the previous six months and the apparently increasing difficulty of obtaining data, this calls into question the reliability of output we can produce. In light of the reluctance of timber sellers to continue providing information, we have regretfully arrived at the decision that this will be the final edition of the timber price database we will produce.
If you have anything you would like to discuss resulting from the publication please do not hesitate to contact us.