For the small landowner, timing is critical. The big Industrial guys cut all the time, regardless of the market, while the small private guy has to be more discerning in when to harvest. I recently sold a first thinning (planted loblolly pine) that will be harvested this year, but it is a silviculturally driven sale. I have some stands that are in their early 20's that need second thinning, but I am delaying that harvest because the prices are so low. The growth on those stands has slowed (needs thinning), but the growth is on trees of sawlog size, so it will not take much of a price improvement at all to get me back even or ahead.
On the first thinning, those stands (ages 12 and 13) are growing lower value pulpwood, so the sooner that I can thin and get the new growth in the form of chip-n-saw (small sawlogs), the better I will be from a financial standpoint. As a trees moves from pulpwood size to small sawlog size, the price/value for that tree doubles.
Anyway, you have to be smart when you sell.
There will a Thinning WDH thread in the near future. Tom has gone ahead and started something.........you have to keep up with the Toms

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Also, don't worry, these are true Southern Yellow Pines

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