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DIMENSION LUMBER PRICE COMPARISON 2009 to July 2014 Benchmark Western Spruce-Pine-Fir R/L KD 2x4 #2&Btr Douglas fir green 2x4 #2&Btr Western Spruce-Pine-Fir KD 2x4 PET Studs All prices US dollars per thousand board feet net fob mill

Lumber Prices & Log Prices VS. Timberland Shares

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The latest North American dimension lumber prices and Pacific Northwest log prices against American timberland company share prices

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Page 1: Lumber Prices & Log Prices VS. Timberland Shares

DIMENSION LUMBER PRICE COMPARISON 2009 to July 2014

Benchmark Western Spruce-Pine-Fir R/L KD 2x4 #2&Btr Douglas fir green 2x4 #2&Btr Western Spruce-Pine-Fir KD 2x4 PET Studs All prices US dollars per thousand board feet net fob mill

Page 2: Lumber Prices & Log Prices VS. Timberland Shares

US DOUGLAS FIR LOG PRICES July 2009 to June 2014

All prices US dollars per thousand board feet Scribners long log scale

Page 3: Lumber Prices & Log Prices VS. Timberland Shares

SOURCE: Google Finance

SHARE PRICES:

Deltic Timber, Rayonier, Weyerhaeuser, Plum Creek Timber July 2013 to July 2014

Share prices of American timberland companies in the past year

have ranged from 13% losses to 14% gains