Risk and feasibility of processing small-diameter material in the U.S. West. I. Structural lumber
2004
Stewart, H.G. | Blatner, K.A. | Wagner, F.G. | Keegan, C III
The reduction of stocking levels has been proposed as one part of a larger plan to restore western forests to sustainable ecological conditions and reduce fire hazard levels. Removal of trees to approximate natural disturbance processes is needed to reduce stocking levels in various western forest types. The problem is that current markets for small-diameter material are limited. New investments in facilities to produce wood-based products from small-diameter material will be needed. Investments will only occur if they are expected to yield a satisfactory financial return consistent with their level of risk. The financial feasibility of investing in a conventional random-length sawmill and a modern large-scale sawmill optimized specifically for processing small-diameter material was evaluated. Monte Carlo simulation techniques were used for risk analysis of utilizing small-diameter material. Results of this analysis suggest that constructing a new sawmill optimized specifically for processing small-diameter material may be feasible. However, changes in forest policy designed to substantially reduce the risk of interruptions in the supply of logs will be required for investment to occur.
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