Forestry prices in New Zealand — one of the world’s largest timber exporters — are near record highs, thanks largely to strong Chinese demand for pine logs. A-grade logs for export were recently selling for $NZ140 ($134) a tonne, up around 14 per cent from September, according to market data provider AgriHQ. In contrast, US futures contracts for lumber — or planks of timber — fell sharply in the second half of last year. That drop was the result of a cooling US housing market, slower construction activity as well as sharply lower US ...
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