Maine Timber Prices Q4 2025

Maine timber prices enter the final quarter of 2025 in a state of sharp divergence. While eastern white pine sawlogs command historically strong prices driven by steady lumber demand, pulpwood markets face severe headwinds from mill closures and declining paper industry demand. Most significantly, 100% of the state is experiencing drought conditions as of late October, with extreme drought affecting 12% of Maine and over 439 private wells running dry—creating unprecedented operational challenges for loggers as the critical winter harvest season approaches. Adding to these pressures, the logging industry has lost 40% of its capacity over the past five years, with approximately 200 loggers leaving the profession annually, creating supply constraints that are limiting harvest volumes regardless of timber availability.

The market environment reflects broader economic challenges: housing starts remain subdued at 1.35 million units nationally (well below the 1.6 million needed to meet demand), sawmills operate at just 64.7% capacity utilization, and biomass power plants continue closing despite Maine’s aggressive renewable energy mandates. Yet opportunities exist for landowners with quality white pine stands and well-drained sites accessible during challenging weather conditions. This report provides current pricing benchmarks and analyzes the critical factors shaping Maine’s timber prices through year-end.

Current Timber Prices by Species and Product Type

The most recent comprehensive pricing data comes from the Maine Forest Service’s 2023 Stumpage Price Report, published in December 2024. While Q4 2025-specific data won’t be available until late 2026, this baseline combined with current market intelligence provides reliable pricing guidance for year-end transactions.

Maine Stumpage Prices: 2023 Statewide Averages

Species/Product Type	Product Category	Average Price	Low	High	Unit	Notable Trends
Eastern White Pine	Sawlogs	$229	$4	$500	/MBF	+13% from 2022; Q4 2025: Strong demand continuing
Eastern White Pine	Pulpwood	$2	$1	$10	/ton	Down from $3/ton in 2022
Red Spruce & Balsam Fir	Sawlogs	$143	$20	$400	/MBF	-18% from 2022; market pressure continuing
Red Spruce & Balsam Fir	Pulpwood	$5	$1	$16	/ton	Minimal change; Q4 2025: Demand “way off”
Red Spruce & Balsam Fir	Studwood	$25	$7	$73	/ton	-26% from 2022
Red Spruce & Balsam Fir	Biomass/Energy Wood	$2	$0.25	$5	/ton	Flat; plant closures reducing outlets
Hemlock	Sawlogs	$50	$11	$189	/MBF	-25% from 2022; weak market persists
Hemlock	Pulpwood	$4	$0.80	$14	/ton	Slight increase from $3/ton
Sugar Maple (Hard Maple)	Sawlogs	$274	$47	$620	/MBF	-13% from 2022
Sugar Maple	Veneer	$578	$323	$1,950	/MBF	Down from $706/MBF in 2022
Sugar Maple	Boltwood	$241	$134	$358	/MBF	Limited market
Red Maple (Soft Maple)	Sawlogs	$187	$22	$450	/MBF	Relatively stable
Red Maple	Veneer	$513	$230	$900	/MBF	Down significantly from $876/MBF
Yellow Birch	Sawlogs	$259	$40	$400	/MBF	+11% from 2022
Yellow Birch	Veneer	$573	$150	$1,200	/MBF	Down from $712/MBF
Yellow Birch	Boltwood	$163	$115	$285	/MBF	Stable niche market
White Birch (Paper Birch)	Sawlogs	$257	$48	$500	/MBF	+21% from 2022; strong performer
White Birch	Veneer	$621	$300	$900	/MBF	Up from $590/MBF
White Birch	Boltwood	$226	$50	$405	/MBF	Moderate demand
Red Oak	Sawlogs	$285	$50	$700	/MBF	-11% from 2022; Q4 2025: Settled back from highs
Red Oak	Veneer	$650	$111	$1,333	/MBF	Premium product, stable
Northern Hardwoods	Pulpwood (mixed)	$4-12	—	—	/ton	Q4 2025: Hardwood holding up better than softwood
All Species	Firewood	$28	$4	$68	/cord	No change from 2022
All Species	Palletwood (Hardwood)	$105	$15	$320	/MBF	+9% from 2022
All Species	Palletwood (Softwood)	$92	$5	$260	/MBF	+51% from 2022; strong growth

Important notes: Prices represent all grades combined and vary significantly by location, quality, volume, terrain, distance to mills, and market timing. Premium grade sawlogs command substantially higher prices than shown in these averages. Units: MBF = thousand board feet; ton = 2,000 pounds; cord = 128 cubic feet stacked.

How to Estimate What Your Timber Is Worth

These stumpage prices give you the market rates per unit of timber in your area, but they’re not particularly useful on their own—you need to know how much wood you actually have standing on your land.

The most accurate way to determine your timber volume is to hire a professional forester to conduct a timber cruise, which involves systematically measuring sample plots across your property. This can cost $1,000 or more depending on your acreage and timber complexity.

For a quicker, DIY estimate, you can use SilviCultural—forestry mapping software designed for small woodland owners. It includes an amateur-friendly cruise system that walks you through measuring your timber and calculating volumes by species and product class.

Once you have volume estimates (in MBF, cords, tons, etc.), you can multiply them by the stumpage prices above to get a rough sense of your timber’s market value. For example:

• 50 MBF of pine sawlogs × $400/MBF = $20,000
• 100 cords of mixed hardwood pulpwood × $15/cord = $1,500

Keep in mind: Actual sale prices vary based on access, timber quality, market timing, and logger availability. These calculations give you a ballpark figure—always consult with a forester before making harvest decisions.

Market factors shaping Q4 2025 prices

Housing Market Weakness Limiting Sawlog Demand

The construction sector that drives lumber consumption remains deeply challenged entering the fourth quarter. Housing starts registered just 1.307 million units in August 2025, down 8.5% from July, with full-year forecasts hovering around 1.35 million units—approximately 240,000 units below the decade-long average of 1.59 million. The October Housing Market Index stood at 37, marking the 16th consecutive month in negative territory, with 38% of builders cutting prices and 65% offering sales incentives. Mortgage rates, while declining from early 2025 peaks above 7%, remain at 6.19% as of late October—sufficiently elevated to constrain affordability and keep potential buyers sidelined.

Sawmills are responding by operating at just 64.7% capacity utilization, essentially unchanged over the past year despite expanding theoretical capacity. This underutilization directly compresses stumpage prices as mills limit timber purchases. The softwood lumber market shows mixed signals: October lumber futures traded at $591.98 per thousand board feet, up 12% year-over-year but down from early summer peaks. Industry sources report “easily enough wood on the ground in the US to cover several months of fall demand,” with major producers like Interfor announcing 12% production cuts. For Maine timber owners, this translates to selective mill demand favoring high-quality pine sawlogs while other species face pricing pressure.

The Northeast housing market provides partial insulation from national weakness. The region ranks among the nation’s top 20 hottest markets for 17 consecutive months due to severe inventory constraints, limited land availability, and low turnover as homeowners retain pandemic-era low mortgage rates. However, construction activity remains constrained by labor shortages, regulatory hurdles, and high input costs. The builder sentiment index for the Northeast reached 46 in October—highest of all four U.S. regions but still in negative territory. This relative strength supports Maine sawlog markets but cannot offset broader demand weakness.

Pulp and Paper Industry Decline Accelerating

Maine’s pulp and paper sector continues its long-term structural decline, with profound implications for pulpwood markets. The state now operates just 6-7 paper mills, down from 52 facilities twenty-five years ago. Major operations including Sappi Somerset in Skowhegan and ND Paper in Rumford have drastically reduced pulpwood orders throughout 2025, with ND Paper fully shuttering for “extended downtime” citing fiber costs, energy costs, and adverse market conditions. The closure of Nine Dragons’ Old Town pulp mill has eliminated a significant market outlet, while the Androscoggin Mill in Jay closed in early 2023 and is being converted to oriented strand board production.

Pulpwood prices have dropped approximately 15-20% from recent highs, with industry sources describing softwood pulpwood demand as “way off.” Hardwood pulpwood is performing better, bolstered by firewood processor demand and residential heating markets, but remains below historical levels. The fundamental challenge is oversupply of both warehoused paper inventory and sawmill residuals, which compete with roundwood pulpwood for mill fiber needs. Chinese import demand shows negative trends, and the digital transition continues eroding printing and writing paper consumption. For landowners, this means pulpwood provides minimal revenue and in some cases becomes a disposal problem rather than an income source during timber harvests.

The paper industry’s decline cascades through Maine’s forest economy. From 2000 to 2020, average employment in pulp and paper mills dropped 72% in Maine compared to 51% nationally. While Maine still maintains the highest concentration of private-sector pulp and paper employment of any U.S. state, the industry now employs fewer than 7,000 workers versus a 1967 peak exceeding 32,000. This contraction reduces competition for Maine timber, shifts bargaining power to remaining mills, and eliminates markets for lower-grade material that previously generated revenue from timber harvests.

Biomass Market Struggles Despite Renewable Energy Mandates

Maine’s biomass and energy wood sector faces severe economic headwinds in Q4 2025 despite strong policy support. ReEnergy Fort Fairfield, a 37-megawatt facility, closed in November 2024 citing “challenging market environment,” while ReEnergy Ashland is being idled again after reopening in 2014. These closures eliminate critical markets for logging residue—chipped limbs, treetops, and forest waste that loggers previously sold for revenue. Biomass stumpage prices remain at just $2 per ton statewide, unchanged from 2022 but representing dramatic decline from historical levels. Economic activity from biomass fuel deliveries to mills and power plants has dropped from $90.5 million in 2010 to $48.2 million in 2016, with further declines through 2025.

The fundamental problem is economics, not policy. Maine passed legislation in 2025 increasing its Renewable Portfolio Standard from 80% by 2030 to 90% by 2040, with a new Clean Energy Standard requiring 100% clean energy by 2040. Biomass qualifies as renewable under these mandates, and the state’s biomass facilities historically received 92-96% of Maine’s Class I Renewable Energy Credits in peak years. However, low wholesale electricity prices, competition from cheaper wind and solar generation, and questions about biomass carbon neutrality have undermined plant economics. Natural gas price volatility and aging infrastructure (average boiler age of 41 years at paper mills) compound these challenges.

For Maine timber owners, the biomass market collapse means logging residue that once generated $10-15 per ton now has minimal value. This affects harvest economics particularly in softwood stands where pulpwood markets are also weak, leaving landowners with limited revenue streams beyond sawlogs. The bright spot is emerging biochar production at ReEnergy facilities in Stratton and Livermore Falls, expected to produce 8,000 tons annually for use in activated carbon, concrete additives, and soil amendments—though this represents a tiny market compared to traditional biomass energy use.

Severe Drought Creating Unprecedented Harvest Challenges

Maine’s weather has created extraordinary operating conditions entering Q4 2025. The state experienced its third driest summer on record, with Bangor receiving just 5.44 inches of rain—a deficit of 4.65 inches from normal. As of late October, 100% of Maine is experiencing drought conditions: approximately 12% in extreme drought (D3) covering parts of ten counties, 47% in severe drought (D2) along coastal and midcoast regions, and the remainder in moderate drought or abnormally dry conditions. Over 439 private wells have run dry, easily outpacing the 95 wells that failed during the 2022 drought.

The drought directly impacts timber operations in multiple ways. Wildfire danger has escalated dramatically, with Maine Forest Service recording 245 wildfires in July-August 2025—more than double historic averages for those months. Burn permits were temporarily suspended across the southern two-thirds of the state. While dry conditions eliminate the mud and wet soil challenges that typically constrain logging operations, the extreme fire risk limits harvest activities and creates operational hazards. Loggers are focusing on lots with well-drained gravel or solid ledge while avoiding high-risk areas. Streamflows have fallen below the 10th percentile across the region, with Otter Creek near Bar Harbor reporting just 0.07 cubic feet per second in August.

The critical question for Q4 and early 2026 is winter conditions. Maine’s winter harvest season is essential for accessing wet sites when frozen ground enables equipment operation. However, long-range forecasts conflict dramatically: the Farmers’ Almanac predicts cold and snowy conditions with frequent storms beginning in late November, while the Old Farmer’s Almanac forecasts a mild, dry winter with below-normal snowfall. The soil moisture deficit from summer and fall drought may affect freeze-up timing and depth regardless of snowfall. If a mild, dry winter materializes, it could severely limit traditional winter logging operations and constrain harvest volumes through the first quarter of 2026.

Transportation Costs and Labor Crisis Constrain Supply

Diesel prices are climbing through Q4 2025, reaching a projected average of $3.75 per gallon—up 29 cents from the first quarter average of $3.46 per gallon. While below the 2022 peak exceeding $4 per gallon, current prices remain historically elevated and represent the largest operational cost in log hauling. Fuel surcharges are adding approximately $0.43 per mile to transportation costs, directly impacting the stumpage prices mills can offer, particularly for timber distant from processing facilities. Professional Logging Contractors of Maine reports loggers paying 24% more for key supplies than in 2020, with equipment and truck insurance up 17% and lubricants commanding a 30% premium.

The national trucking industry remains short 60,000 to 80,000 drivers, a deficit expected to persist through 2025 and beyond as other industries compete for CDL-licensed workers. Log hauling faces particular challenges given rural operations, irregular hours, and specialized equipment requirements. Maine’s $53.3 million federal investment in freight rail infrastructure—upgrading 140 miles of Eastern Maine Railway track—will provide long-term relief by moving forest products via rail to Searsport port and reducing truck traffic. However, near-term transportation constraints limit timber movement and add costs to every transaction.

The labor crisis extends beyond trucking to logging operations themselves. Maine has lost approximately 40% of its logging capacity over the past five years, with roughly 200 loggers leaving the profession annually. An aging workforce, insufficient younger workers entering the field, and competition from construction and excavation industries have created acute shortages. Modern logging equipment costs $500,000 to $700,000 per machine, with new operations requiring $1.5 to $2 million in startup capital and banks unwilling to finance new entrants without substantial collateral. Training a new equipment operator takes approximately one year and costs around $100,000 in lost production and equipment damage.

The Mechanized Logging Operations and Forest Trucking program at Kennebec Valley Community College has graduated approximately 100 workers over eight years, with roughly 60% remaining in the industry and earning $50,000 to $60,000 starting salaries. While helpful, this pipeline cannot offset the 200 workers leaving annually. The result is harvest capacity severely constrained regardless of timber availability or mill demand. Even with strong pine sawlog prices incentivizing harvest activity, available logging contractors are often booked months in advance, limiting landowners’ ability to capitalize on favorable markets.

Emerging Threats and Opportunities

A spruce budworm outbreak is building in northern Maine with potentially catastrophic implications. Aerial surveys in 2024 recorded 3,400 acres of visible damage in northwestern Maine, while winter sampling found populations at or above action thresholds. The outbreak, fueled by ongoing infestations in Quebec, prompted treatment of 240,000 acres with aerial insecticide in June 2025, with an additional 300,000 acres of building populations identified for potential 2026 treatment. If the outbreak progresses like the 1970s-1980s episode, it could cause millions of acres of spruce-fir mortality, severely reduce future pulpwood supply, create wildfire fuel accumulations, and generate over $100 million in economic losses.

On the positive side, pine sawlog markets remain remarkably strong throughout 2025. Landowners are finally receiving historically high prices for quality white pine as mills compete for sawlog material. Industry reports from Acadian Timber Corp indicate softwood sawlog pricing increased 4% from Q2 2024 due to strong demand and favorable product mix. The Irving Forest Products acquisition of Masardis Sawmill in January 2025 added 115 million board feet of annual capacity and 80 jobs, bringing Irving’s total sawmill capacity to 1.3 billion board feet across ten operations. Pleasant River Lumber operates two mills at near capacity with over 300 employees, demonstrating viable sawlog processing despite broader market challenges.

Emerging forest products offer long-term diversification potential. Maine is promoting mass timber and cross-laminated timber manufacturing, though no CLT facilities currently operate in-state. The University of Maine’s Forest Bioproducts Research Institute is developing technologies for converting woody biomass to chemicals, biofuels, and jet fuel. ReEnergy facilities are producing biochar from biomass gasification for use in activated carbon, concrete additives, and carbon sequestration. The Forest Opportunity Roadmap/Maine initiative aims to grow the forest products industry 40% to $12 billion, though near-term market conditions remain challenging for achieving this goal.

Situation Normal

Maine timber markets in Q4 2025 reflect a sector in significant transition, with sharp divergence between product types and species creating both opportunities and challenges for landowners and forestry professionals. The most critical takeaway is species differentiation: eastern white pine sawlogs command premium prices in a strong market, while pulpwood—particularly softwood pulpwood—faces the weakest demand in recent memory following mill closures and paper industry decline. Landowners with quality pine stands and harvest-ready conditions are well-positioned, while those dependent on pulpwood revenue face difficult economics.

The unprecedented drought affecting 100% of Maine creates near-term operational constraints more limiting than market prices for many timber sales. Combined with the logging industry’s loss of 40% of capacity over five years, supply constraints now dominate market dynamics regardless of demand signals. Rising diesel prices, persistent trucking shortages, and the critical uncertainty surrounding winter weather conditions add further complexity to harvest planning. The winter freeze-up will be decisive for Q4 and Q1 harvest volumes, with conflicting forecasts leaving substantial uncertainty about operational windows for accessing wet sites.

Looking toward 2026, housing market fundamentals suggest continued pressure on sawlog demand with starts forecast at just 1.355 million units, sawmill utilization remaining around 65%, and mortgage rates staying above 6%. However, Maine’s position in the relatively strong Northeast market, limited domestic lumber supply growth due to Canadian tariff increases, and structural housing shortages provide some support. For timber owners, the strategy should emphasize harvesting quality sawlog material—particularly pine—when operational conditions allow, while maintaining realistic expectations for pulpwood revenue and carefully timing sales to capture available logger capacity during favorable weather windows. Despite near-term challenges, Maine’s forest resource base remains strong, and diversification into emerging forest products offers long-term promise for the industry’s evolution beyond traditional pulp, paper, and lumber markets.