Manage Woodlots For Income - Dave Apsley, Ohio State University, from the 2018 Conservation Tillage and Technology Conference, March 6 - 7, Ada, OH, USA.
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Dave Apsley - Manage Woodlots For Income
1. Managing Your
Woodlot for Income
Dave Apsley
Natural Resources Specialist
Ohio State University Extension
Conservation Tillage and Technology Conference
March 7, 2018 - Ada, Ohio
3. Develop a Plan to Help You Reach Your Goals
Helps you to refine your objectives and to set reasonable
goals.
Helps you to focus Time, Interest, Money and Energy to
accomplish Goals
May be needed to get a property tax reduction
(OFTL and CAUV) and to be eligible for cost-share on
projects (EQIP- Environmental Quality Incentives Program)
7. Know what you have! A good inventory:
Is needed for a forest management plan
Helps you to identify resources and options
Timber value and future potential
Wildlife Habitat
Potential sites for non-timber forest
product
Helps you to evaluate condition of your forest
Stocking
Forest health issues etc.
8. Know what you have!
A good inventory:
Will allow you to determine your Basis
Reduces the taxes that you pay on the proceeds from a future
timber sale
Help you determine growth rates and rates of return
Helps you to harvest when your
trees are mature
Financially mature
Biologically mature
9. What Inventory Data is Needed?
Age/Size Distribution
Species
Site Quality
Tree Health & Vigor
Growth Rate
Maturity
Stocking
Current Value
Quantity
Quality
14. Trees are Cylinders with Taper
Measure Length
Measure Diameter
Estimate Taper
(Tables take care of this)
Reduce for Slab and Kerf Loss
(Tables do this also)
Product Sale - Quantity
17. Ready to Harvest? How do you decide?
Landowner objectives
Condition
Value
Size
Quality
Risks
Markets
Maturity
18. So how do we determine if your
trees/woods are mature?
How do you define maturity?
19. Jacobson, M. 2017Forest Finance 8: to Cut or not to cut-Tree Value and
deciding When to Harvest timber. PSU Extension
20.
21.
22. First we need to know some basics
about tree value:
As trees increase in diameter (d.b.h.) and height
they increase in volume and value
As d.b.h. increases the usable height can also
increase which adds volume
As d.b.h. increases the value of the product that
can be produced increases
Tree quality/grade is also diameter dependent
23. Observations on Financial Maturity
1. If butt long will increase in grade in the evaluation period it is
not financially mature
2. The rate of earning power (%) is less for large diameter trees
3. The rate of earning power is lower for high quality trees
4. Earning power is greatly increased by an increase in tree
quality
5. Earning power increases with diameter growth rate
6. Trees with greater merchantable height have slightly greater
earning power
7. Trees that increase in merchantable height have higher
earning power.
Heiligman, OSUE F-48
Trimble, GR, J.J. Mendel, R. A. Kennell. NE-292
24. Jacobson, M. 2017Forest Finance 8: to Cut or not to cut-Tree Value and
deciding When to Harvest timber. PSU Extension
25. Jacobson, M. 2017Forest Finance 8: to Cut or not to cut-Tree Value and
deciding When to Harvest timber. PSU Extension
26. Why is tree grade so important?
• Grade 1 or veneer logs may
be 3-10 times more valuable
than lower quality logs of the
same size or species.
• Compare prices by grade on
the timber price reports.
30. The 12” PA black cherry
7 rings per inch- 2 inches every 7 years
PA 2007 Prices used:
12-14 d.b.h - $602/MBF
16 d.b.h. - $1,481/MBF
18 d.b.h. - $2,360/MBF
Jacobson, M. 2017Forest Finance 8: to Cut or not to cut-Tree Value and
deciding When to Harvest timber. PSU Extension
31. The 12” PA black cherry example cont.
Jacobson, M. 2017Forest Finance 8: to Cut or not to cut-Tree Value and
deciding When to Harvest timber. PSU Extension
32. What does this mean for you?
It all comes back to your reason for owning your woodland
• Maximum timber income?
• If not it is something to think about, but…
Most importantly
• Work with a professional forester to develop a
management plan
• Implement the plan with assistance from a forester
• Modify the plan as conditions change
33. When you do decide to harvest:
Mark all trees to be harvested
Pay attention to timber markets
Avoid high-grading and diameter-limit harvests
Remove low-grade, risky trees to make room for “more
valuable” trees
Don’t remove trees before they reach their grade potential
34. When you do decide to harvest:
Remember to protect residual trees from felling and
skidding damage
Follow BMP’s to prevent loss in site productivity
Make the process competitive, none of this matters if you
don’t get a fair price for the trees that you are selling
Avoid selling on shares
Consider effect on regeneration
and invasive species
And………….