TAMU-TEXAS FOREST SERVICE
301 TARROW SUITE 364
COLLEGE STATION TX 77840-7896
TEXAS TIMBER
PRICE TRENDS
Address Services Requested
Place Mail Label Here
BIMONTHLY MARKET REPORT
VOL. 22 NO. 3
May/June 2004
NONPROFIT ORG.
U.S.POSTAGE
PAID
COLLEGE STATION
TEXAS 77842
PERMIT NO. 215
TEXAS TIMBER PRICE TRENDS
WHAT IS THE PURPOSE OF THIS REPORT?
Texas Timber Price Trends is a bi-monthly publication reporting average
prices paid for standing timber, commonly called the “stumpage price,” for the
two months listed in the report. Its purpose is to provide timely information
concerning timber market conditions in order to improve decision making and
foster fair transactions that benefit both buyer and seller and encourage
conservation of the timber resource. Market information is particularly
important to nonindustrial private landowners who are only infrequent
participants in this complex market.
VOLUME CONVERSION FACTORS
A specific conversion factor for each sale reported by the reporters is used for
price calculations when available; otherwise, the following average conversion
factors are used:
Sawlogs
MBF-International-1/4" X 0.74 = MBF-Doyle
MBF-Scribner X 0.78 = MBF-Doyle
MBF-USFS Scribner X 0.814 = MBF-Doyle
Pine - 8 Tons = 1 MBF-Doyle
Hardwood - 9 Tons = 1 MBF-Doyle
Pine Chip-N-Saw: 1 Cord = 2.625 tons
WHERE DOES THE DATA COME FROM?
Average stumpage prices published in this report are calculated from
actual timber sales as reported by as many as 60 cooperators active in the East
Texas timber market. Reporters include forest product companies, logging
contractors, consulting foresters, non-industrial landowners, financial
institutions, and federal agencies. Research has shown that a diversity of
reporters tends to reduce bias and improve the reliability of the price estimates.
Pulpwood
Pine - 2.7 Tons = 1 Cord
Hardwood - 2.8 Tons = 1 Cord
Pine - 81 Cubic Feet = 1 Cord
Hardwood - 80 Cubic Feet = 1 Cord
HOW ARE AVERAGE PRICES CALCULATED?
The calculation of average prices weighs each sale by the volume sold.
This is done to filter out the effect that the size of the sale has on the price paid,
thus providing a more consistent and meaningful average. The result is that the
average price reported is the average price paid per unit of volume, NOT per
the average timber sale.
The price per ton for each product category is calculated from the price
per ton as reported or using a specific conversion factor for each sale provided
by the reporters. When a specific conversion factor for each sale is not
available, an average conversion factor listed on page 8 is used instead.
Readers should note that volume to weight conversions vary depending on the
average diameter of the logs in the sale.
Texas Timber Price Trends is a publication of the Texas Forest Service
and is available at $2 per copy from your local TFS office, or through an annual
mail subscription of $10 per year. To subscribe, please send your request and
check or money order (payable to "Texas Forest Service") to:
HOW CAN I USE THIS REPORT?
This report is intended to serve only as a guide to general price levels.
Individuals interested in selling timber can use this report to monitor market
trends and get a general idea of what their timber is worth. However, it should
not be used to judge the fair market value of a specific timber sale. The price
paid for a specific stand of timber will vary considerably due to such factors as:
size, species, and quality of timber; total volume and volume per acre; logging
conditions; distance to the mill; end product of manufacture; and current
demand and local competition for timber. Additionally, timber markets often
change rapidly and therefore past prices are not necessarily a reflection of
current market prices. We strongly recommend the use of a competitive bidding
process as the ultimate determinant of market price for any specific tract of
timber.
1
SUBSCRIPTION INFORMATION
Attn: Texas Timber Price Trends
Texas Forest Service
301 Tarrow Suite 364
College Station, TX 77840-7896
This publication is also available free of charge on the Texas Forest
Service website:
http://teaxasforestservice.tamu.edu/forest/economics/default.asp
WANT TO BE A REPORTER?
If you are active in the East Texas timber market, please consider
becoming a cooperating price reporter. You’ll receive report forms bi-monthly
with a self-return envelope. In addition, you’ll receive a complimentary
subscription to the report in exchange for your price information. To sign up,
contact the Texas Forest Service at the above address.
The Texas Forest Service is an Equal Opportunity Employer
8
COMMENTS
Texas Timber Price Trends
Pine Sawlog Market Softening In Spite of Rain
Market Regions
Pine sawlog stumpage prices “are falling in spite of wet weather as
mills have a large inventory of purchased stumpage”, commented one
reporter. The average stumpage price of pine sawlogs for East Texas
was $36.64/ton ($291.64/MBF), a 7% drop from the previous twomonth period.
The average stumpage price of pine pulpwood for the May-June
period slipped from the previous two-month period for East Texas, from
$7.56/ton ($20.09/cord) to $6.94/ton ($18.59/cord). One reporter from
the northeast region expected a soaring pine pulpwood market in the fall
“due to very low mill inventories” and “very wet weather” in northeast
region.
Red River
Titus
Morris
Franklin
Bowie
Cass
Camp
Northeast TX
Region I
Wood
Marion
Upshur
Van Zandt
The pine chip-n-saw stumpage price for the May-June period
showed a $2/ton increase from the March-April period, to $15.69/ton
($41.96/cord) in East Texas.
Harrison
Gregg
Smith
Henderson
Panola
Rusk
Anderson
Cherokee
Hardwood Market Vigorous Due to Wet Weather
Shelby
Leon
Houston
San Augustine
Nacogdoches
Angelina
Sabine
Southeast TX
Grimes
Tyler
San Jacinto
Hardin
Montgomery
Region II
Liberty
Waller
Jasper
Polk
Walker
Newton
Trinity
Madison
Harris
7
Chambers
Wet weather in the May-June period has been cited by many of our
reporters as a very important factor for the hardwood market. The
rainy June limited the timber supply in certain areas causing disruption
of mill production. Coupled with solid market demand, hardwood sawlog prices has increased by more than $2/ton from the same period last
year. The average stumpage price of hardwood sawlogs remained in
the $17-$18/ton range for the March-April and May-June period.
The stumpage price for hardwood pulpwood increased about $1/ton
to $6.16/ton ($17.35/cord), compared to the March-April period with
the rainy weather being one of the main contributing factors.
House Committee Study on Timberland Tax
Orange
Jefferson
Timberland property taxes provide a significant source of revenues
for many East Texas counties and schools. On June 24, 2004, timber
landowners, industry representatives, county officials, the Comptroller’s Office and the Texas Forest Service testified before the House
Committee on Local Government Ways and Means, focusing on the
timberland appraisal method and procedures.
2
TEXAS TIMBER PRICES FOR
PROPERTY TAX APPRAISAL
TEXAS ANNUAL STATEWIDE
AVERAGE STUMPAGE PRICES
Statewide Simple Average of Unweighted and Weighted Stumpage Prices
Large Pine Sawtimber
Small Pine Sawtimber
Pine Pulpwood
Hardwood Sawtimber
Hardwood Pulpwood
$/Ton
$/Ton
$/Ton
$/Ton
$/Ton
1999
2000
2001
2002
2003
42.01
19.96
11.26
15.07
9.05
39.29
17.68
8.26
13.41
9.04
38.33
15.39
6.15
13.28
9.70
39.23
17.92
4.65
16.10
4.83
36.21
16.81
5.89
16.49
5.30
Starting from January 1, 2004, the new legislation (Senate Bill 1646 of
2003) requires stumpage prices to be in tons in the tax appraisal formula. Also,
statewide average stumpage prices (vs. northeast and southeast) will also be
required for the tax appraisal. Another important new change from this law is
that small pine sawtimber (chip-n-saw) is recognized as a timber product.
Data Source: Texas Forest Service, February 2004
TEXAS TIMBER PRICES FOR
PROPERTY TAX APPRAISAL
$/MBF-Doyle
Year
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004.1
2004.2
2004.3
Sawlog
$/MBF-Doyle
170.53
129.87
127.45
142.59
152.31
156.32
163.34
189.33
252.26
283.80
358.03
438.36
395.46
441.75
414.51
382.86
376.57
325.14
334.86
289.30
305.03
310.77
291.64
Pine
Chip-N-Saw
$/Cord
30.85
28.35
23.68
22.53
24.88
26.25
30.12
29.71
39.39
39.46
47.81
62.96
59.18
73.39
76.40
68.44
57.69
42.06
41.92
41.90
33.89
35.27
41.96
Pulpwood
$/Cord
23.48
18.46
14.53
15.28
16.33
18.45
22.17
22.59
27.98
26.89
22.75
27.26
25.25
28.61
37.01
28.95
19.20
12.94
12.33
14.90
17.35
20.09
18.59
High
Low
Statewide W eighted Average Price
500
450
400
350
300
250
200
150
100
50
0
M/A M/J J/A S/O N/D J/F M/A M/J J/A S/O N/D J/F M/A
'02 '02 '02 '02 '02 '03 '03 '03 '03 '03 '03 '04 '04
3
6
Hardwood
Sawlog
Pulpwood
$/MBF-Doyle
$/Cord
54.61
4.03
54.79
5.13
46.16
4.18
55.46
6.78
64.93
6.59
69.48
9.27
62.20
6.03
53.83
9.09
67.04
10.10
80.67
12.76
93.77
15.57
105.17
28.65
88.28
10.78
132.20
25.20
138.75
14.41
139.44
12.24
120.88
7.97
120.32
15.11
156.97
15.67
157.81
15.85
117.71
16.95
161.64
15.07
161.02
17.35
HARDWOOD SAWTIMBER
$/MBF-Doyle
PINE CHIP-N-SAW
High
Low
Statewide W eihghted Average Price
High
Low
Statewide W eighted Average Price
$/Cord
70
350
60
300
50
250
N/A
40
200
150
30
100
20
50
10
0
0
M/J J/A S/O N/D J/F M/A M/J J/A S/O N/D J/F M/A M/J
'02 '02 '02 '02 '03 '03 '03 '03 '03 '03 '04 '04 '04
M/J
'02
J/A
'02
HARDWOOD PULPWOOD
$/Cord
S/O N/D
'02 '02
J/F
'03
M/A M/J
'03 '03
J/A
'03
S/O N/D
'03 '03
J/F
'04
M/A M/J
'04 '04
PINE PULPWOOD
High
Low
Statewide W eighted Average Price
High
Low
Statewide W eighted Average Price
$/Cord
50
35
45
30
40
35
25
30
20
25
15
20
15
10
10
5
5
0
0
M/J J/A S/O N/D J/F M/A M/J J/A S/O N/D J/F M/A M/J
'02 '02 '02 '02 '03 '03 '03 '03 '03 '03 '04 '04 '04
M/J J/A S/O N/D J/F M/A M/J J/A S/O N/D J/F M/A M/J
'02 '02 '02 '02 '03 '03 '03 '03 '03 '03 '04 '04 '04
5
4
$/MBF
**
$/Cord
17.56
15.60
17.35
**
$/Ton
7.38
6.03
6.94
**
$/Ton
16.05
15.51
15.69
$/Ton
17.41
16.65
17.24
**
$/Ton
**
$/Ton
6.23
5.57
6.16
**
Pulpwood
Northeast TX
Southeast TX
Statewide*
USFS
Chip-N-Saw
Northeast TX
Southeast TX
Statewide*
HARDWOOD
Mixed Sawlogs
Northeast TX
Southeast TX
Statewide*
USFS
Grade Sawlogs
Northeast TX
Pulpwood
Northeast TX
Southeast TX
Statewide*
USFS
$/Ton
5.37
**
5.38
**
$/Ton
50.15
$/Ton
16.89
19.65
17.91
**
$/Ton
18.13
13.26
13.60
$/Ton
7.86
6.41
7.56
**
$/Ton
38.21
41.33
39.27
**
$/Cord
15.04
**
15.07
**
$/MBF
350.90
$/MBF
153.02
176.23
161.64
**
$/Cord
45.46
34.48
35.27
$/Cord
20.81
17.23
20.09
**
$/MBF
319.68
295.93
310.77
**
Average Price
Last Period
$/Ton
6.06
4.26
4.56
**
$/Ton
**
$/Ton
15.94
11.73
15.13
**
$/Ton
14.78
13.57
13.62
$/Ton
7.42
4.34
5.29
**
$/Ton
39.05
41.24
40.22
**
$/Cord
16.66
11.82
12.60
**
$/MBF
**
$/MBF
146.68
112.36
140.29
**
$/Cord
36.96
35.39
35.46
$/Cord
19.76
11.72
14.23
**
$/MBF
288.81
303.20
296.53
**
Average Price Same Period A
Year Ago
71
47
118
**
**
106
133
239
**
3
46
49
38
22
60
**
14
49
63
**
# of Sales
Reported
Ton
14,492
1,742
16,235
**
Ton
**
Ton
9,571
2,767
12,338
**
Ton
113,449
227,163
340,611
Ton
156,363
75,993
232,356
**
Ton
116,313
114,423
230,735
**
Cord
5,145
622
5,767
**
MBF
**
MBF
1,013
307
1,321
**
Cord
42,040
85,305
127,345
Cord
58,560
28,141
86,701
**
MBF
13,078
15,910
28,988
**
Total Volume
6-Aug-04
Volume 22, No. 3
1. Stumpage price statistics included gatewood sales. Stumpage prices from the gatewood sales were estimated by substracting cut and haul
costs, other expenses and profits if any provided by the reporters.
2. Price is calculated from a specific conversion factor reported for each sale if available; otherwise, the average conversion factors listed on
page 8 are used. MBF = Thousand Board Feet. The DOYLE LOG SCALE is used for board foot measurements.
* Statewide data excludes U.S. Forest Service sales.
** Insufficient sales to report price statistics (less than three reported sales).
$/MBF
164.41
149.86
161.02
**
$/Cord
43.32
41.29
41.96
$/Cord
19.70
16.27
18.59
**
$/Ton
32.77
40.57
36.64
**
$/MBF
291.45
291.79
291.64
**
Average Price
Sawlogs
Northeast TX
Southeast TX
Statewide*
USFS
PINE
Product/Region
May/June 2004
STUMPAGE PRICE TRENDS IN TEXAS
For timber prices used for timberland property taxation, please see page 3.
The prices in this table do not represent market price for a specific tract of timber.
Market price for any specific tract of timber may vary considerably due to variation in tract size, timber quality, species, total volume and volume
per acre, logging conditions, distance to the mill, utilization, current demand and local competition for timber, and rapidly changing timber market.
HARDWOOD SAWTIMBER
$/MBF-Doyle
PINE CHIP-N-SAW
High
Low
Statewide W eihghted Average Price
High
Low
Statewide W eighted Average Price
$/Cord
70
350
60
300
50
250
N/A
40
200
150
30
100
20
50
10
0
0
M/J J/A S/O N/D J/F M/A M/J J/A S/O N/D J/F M/A M/J
'02 '02 '02 '02 '03 '03 '03 '03 '03 '03 '04 '04 '04
M/J
'02
J/A
'02
HARDWOOD PULPWOOD
$/Cord
S/O N/D
'02 '02
J/F
'03
M/A M/J
'03 '03
J/A
'03
S/O N/D
'03 '03
J/F
'04
M/A M/J
'04 '04
PINE PULPWOOD
High
Low
Statewide W eighted Average Price
High
Low
Statewide W eighted Average Price
$/Cord
50
35
45
30
40
35
25
30
20
25
15
20
15
10
10
5
5
0
0
M/J J/A S/O N/D J/F M/A M/J J/A S/O N/D J/F M/A M/J
'02 '02 '02 '02 '03 '03 '03 '03 '03 '03 '04 '04 '04
M/J J/A S/O N/D J/F M/A M/J J/A S/O N/D J/F M/A M/J
'02 '02 '02 '02 '03 '03 '03 '03 '03 '03 '04 '04 '04
5
4
TEXAS TIMBER PRICES FOR
PROPERTY TAX APPRAISAL
TEXAS ANNUAL STATEWIDE
AVERAGE STUMPAGE PRICES
Statewide Simple Average of Unweighted and Weighted Stumpage Prices
Large Pine Sawtimber
Small Pine Sawtimber
Pine Pulpwood
Hardwood Sawtimber
Hardwood Pulpwood
$/Ton
$/Ton
$/Ton
$/Ton
$/Ton
1999
2000
2001
2002
2003
42.01
19.96
11.26
15.07
9.05
39.29
17.68
8.26
13.41
9.04
38.33
15.39
6.15
13.28
9.70
39.23
17.92
4.65
16.10
4.83
36.21
16.81
5.89
16.49
5.30
Starting from January 1, 2004, the new legislation (Senate Bill 1646 of
2003) requires stumpage prices to be in tons in the tax appraisal formula. Also,
statewide average stumpage prices (vs. northeast and southeast) will also be
required for the tax appraisal. Another important new change from this law is
that small pine sawtimber (chip-n-saw) is recognized as a timber product.
Data Source: Texas Forest Service, February 2004
TEXAS TIMBER PRICES FOR
PROPERTY TAX APPRAISAL
$/MBF-Doyle
Year
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004.1
2004.2
2004.3
Sawlog
$/MBF-Doyle
170.53
129.87
127.45
142.59
152.31
156.32
163.34
189.33
252.26
283.80
358.03
438.36
395.46
441.75
414.51
382.86
376.57
325.14
334.86
289.30
305.03
310.77
291.64
Pine
Chip-N-Saw
$/Cord
30.85
28.35
23.68
22.53
24.88
26.25
30.12
29.71
39.39
39.46
47.81
62.96
59.18
73.39
76.40
68.44
57.69
42.06
41.92
41.90
33.89
35.27
41.96
Pulpwood
$/Cord
23.48
18.46
14.53
15.28
16.33
18.45
22.17
22.59
27.98
26.89
22.75
27.26
25.25
28.61
37.01
28.95
19.20
12.94
12.33
14.90
17.35
20.09
18.59
High
Low
Statewide W eighted Average Price
500
450
400
350
300
250
200
150
100
50
0
M/A M/J J/A S/O N/D J/F M/A M/J J/A S/O N/D J/F M/A
'02 '02 '02 '02 '02 '03 '03 '03 '03 '03 '03 '04 '04
3
6
Hardwood
Sawlog
Pulpwood
$/MBF-Doyle
$/Cord
54.61
4.03
54.79
5.13
46.16
4.18
55.46
6.78
64.93
6.59
69.48
9.27
62.20
6.03
53.83
9.09
67.04
10.10
80.67
12.76
93.77
15.57
105.17
28.65
88.28
10.78
132.20
25.20
138.75
14.41
139.44
12.24
120.88
7.97
120.32
15.11
156.97
15.67
157.81
15.85
117.71
16.95
161.64
15.07
161.02
17.35
COMMENTS
Texas Timber Price Trends
Pine Sawlog Market Softening In Spite of Rain
Market Regions
Pine sawlog stumpage prices “are falling in spite of wet weather as
mills have a large inventory of purchased stumpage”, commented one
reporter. The average stumpage price of pine sawlogs for East Texas
was $36.64/ton ($291.64/MBF), a 7% drop from the previous twomonth period.
The average stumpage price of pine pulpwood for the May-June
period slipped from the previous two-month period for East Texas, from
$7.56/ton ($20.09/cord) to $6.94/ton ($18.59/cord). One reporter from
the northeast region expected a soaring pine pulpwood market in the fall
“due to very low mill inventories” and “very wet weather” in northeast
region.
Red River
Titus
Morris
Franklin
Bowie
Cass
Camp
Northeast TX
Region I
Wood
Marion
Upshur
Van Zandt
The pine chip-n-saw stumpage price for the May-June period
showed a $2/ton increase from the March-April period, to $15.69/ton
($41.96/cord) in East Texas.
Harrison
Gregg
Smith
Henderson
Panola
Rusk
Anderson
Cherokee
Hardwood Market Vigorous Due to Wet Weather
Shelby
Leon
Houston
San Augustine
Nacogdoches
Angelina
Sabine
Southeast TX
Grimes
Tyler
San Jacinto
Hardin
Montgomery
Region II
Liberty
Waller
Jasper
Polk
Walker
Newton
Trinity
Madison
Harris
7
Chambers
Wet weather in the May-June period has been cited by many of our
reporters as a very important factor for the hardwood market. The
rainy June limited the timber supply in certain areas causing disruption
of mill production. Coupled with solid market demand, hardwood sawlog prices has increased by more than $2/ton from the same period last
year. The average stumpage price of hardwood sawlogs remained in
the $17-$18/ton range for the March-April and May-June period.
The stumpage price for hardwood pulpwood increased about $1/ton
to $6.16/ton ($17.35/cord), compared to the March-April period with
the rainy weather being one of the main contributing factors.
House Committee Study on Timberland Tax
Orange
Jefferson
Timberland property taxes provide a significant source of revenues
for many East Texas counties and schools. On June 24, 2004, timber
landowners, industry representatives, county officials, the Comptroller’s Office and the Texas Forest Service testified before the House
Committee on Local Government Ways and Means, focusing on the
timberland appraisal method and procedures.
2
TEXAS TIMBER PRICE TRENDS
WHAT IS THE PURPOSE OF THIS REPORT?
Texas Timber Price Trends is a bi-monthly publication reporting average
prices paid for standing timber, commonly called the “stumpage price,” for the
two months listed in the report. Its purpose is to provide timely information
concerning timber market conditions in order to improve decision making and
foster fair transactions that benefit both buyer and seller and encourage
conservation of the timber resource. Market information is particularly
important to nonindustrial private landowners who are only infrequent
participants in this complex market.
VOLUME CONVERSION FACTORS
A specific conversion factor for each sale reported by the reporters is used for
price calculations when available; otherwise, the following average conversion
factors are used:
Sawlogs
MBF-International-1/4" X 0.74 = MBF-Doyle
MBF-Scribner X 0.78 = MBF-Doyle
MBF-USFS Scribner X 0.814 = MBF-Doyle
Pine - 8 Tons = 1 MBF-Doyle
Hardwood - 9 Tons = 1 MBF-Doyle
Pine Chip-N-Saw: 1 Cord = 2.625 tons
WHERE DOES THE DATA COME FROM?
Average stumpage prices published in this report are calculated from
actual timber sales as reported by as many as 60 cooperators active in the East
Texas timber market. Reporters include forest product companies, logging
contractors, consulting foresters, non-industrial landowners, financial
institutions, and federal agencies. Research has shown that a diversity of
reporters tends to reduce bias and improve the reliability of the price estimates.
Pulpwood
Pine - 2.7 Tons = 1 Cord
Hardwood - 2.8 Tons = 1 Cord
Pine - 81 Cubic Feet = 1 Cord
Hardwood - 80 Cubic Feet = 1 Cord
HOW ARE AVERAGE PRICES CALCULATED?
The calculation of average prices weighs each sale by the volume sold.
This is done to filter out the effect that the size of the sale has on the price paid,
thus providing a more consistent and meaningful average. The result is that the
average price reported is the average price paid per unit of volume, NOT per
the average timber sale.
The price per ton for each product category is calculated from the price
per ton as reported or using a specific conversion factor for each sale provided
by the reporters. When a specific conversion factor for each sale is not
available, an average conversion factor listed on page 8 is used instead.
Readers should note that volume to weight conversions vary depending on the
average diameter of the logs in the sale.
Texas Timber Price Trends is a publication of the Texas Forest Service
and is available at $2 per copy from your local TFS office, or through an annual
mail subscription of $10 per year. To subscribe, please send your request and
check or money order (payable to "Texas Forest Service") to:
HOW CAN I USE THIS REPORT?
This report is intended to serve only as a guide to general price levels.
Individuals interested in selling timber can use this report to monitor market
trends and get a general idea of what their timber is worth. However, it should
not be used to judge the fair market value of a specific timber sale. The price
paid for a specific stand of timber will vary considerably due to such factors as:
size, species, and quality of timber; total volume and volume per acre; logging
conditions; distance to the mill; end product of manufacture; and current
demand and local competition for timber. Additionally, timber markets often
change rapidly and therefore past prices are not necessarily a reflection of
current market prices. We strongly recommend the use of a competitive bidding
process as the ultimate determinant of market price for any specific tract of
timber.
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SUBSCRIPTION INFORMATION
Attn: Texas Timber Price Trends
Texas Forest Service
301 Tarrow Suite 364
College Station, TX 77840-7896
This publication is also available free of charge on the Texas Forest
Service website:
http://teaxasforestservice.tamu.edu/forest/economics/default.asp
WANT TO BE A REPORTER?
If you are active in the East Texas timber market, please consider
becoming a cooperating price reporter. You’ll receive report forms bi-monthly
with a self-return envelope. In addition, you’ll receive a complimentary
subscription to the report in exchange for your price information. To sign up,
contact the Texas Forest Service at the above address.
The Texas Forest Service is an Equal Opportunity Employer
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