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Pope Resources expects to log about half the board feet it could
Due to a weak construction market, Poulsbo-based Pope Resources announced Tuesday that in 2010 it will harvest almost 50 percent less board feet than its sustainable level.
Pope, parent company of Olympic Resource Management and Olympic Property Group, owners of Port Gamble, said in a statement it plans to take 32 million board feet, 47 percent less than the long-term sustainable level of 60 million board feet.
The company announced last year it would take 37 million board feet, but with weakness in log markets, the company now believes it will take about 32 million feet in 2009, the same amount it expects to log in 2010.
"The drop-off in housing starts has curtailed demand for solid wood products and," the company said in the statement. "Rather than absorb materially lower log prices, we are opting instead to allow 47 percent of our annual sustainable harvest to continue to grow."
Pope owns or manages over 152,000 acres of timberland and development property in Washington and Oregon.