Quote:
Originally Posted by Wayne Maybury
I work for a major forest products company and we keep announcing 2 week mill shutdowns in various locations but none of them have affected me so far. I have the feeling this is going to be a long, very tough recession.
Wayne
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Wayne, mills are paying $310 per m for Doug Fir, $225 for hemlock, mixed pulp is at $19.00-21 a ton.
2 years ago we could get more than double those prices. Every mill in my region is full of both logs and finished products with no markets for anything. Our usually fantastic raw log export market just tanked. I heard that two shiploads were turned around as the buyers in the far east failed. One ship can hold almost all of my yearly production.
If my creditors will agree to take interest payments only I think I can last a year, after that they can add my equipment to the hundreds sitting idle right now on distressed sale lots.
I have some of the most talented guys in the woods, many of them will lose their homes.
Scott S