Pope Resources Continues Reduced Harvest

Pope Resources has announced plans to continue cutting fewer trees in 2010, as dampened demand for wood products persists.
The Poulsbo-based company announced it will harvest 32 million board feet of timber next year, about the same amount it intends to harvest this year.
Earlier, the company estimate it would harvest 37 million board feet in 2009.
A company statement blamed market conditions.
“The drop-off in housing starts has curtailed demand for solid wood products and, rather than absorb materially lower log prices, we are opting instead to allow 47 percent of our annual sustainable harvest to continue to grow,” a company statement announced.
Pope Resources announced a 2009 fourth-quarter dividend of 10 cents per unit, down from an earlier announcement of 20 cents per unit.
The company and its subsidiaries own or manage 152,000 acres of timberland and development property in Washington and Oregon.

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