Price County’s Timber Revenue Dropped 39% in March. Wh

# Price County’s Timber Revenue Dropped 39% in March. What’s Going On?

The county’s biggest revenue fund took a hit — but the story is more complicated than the headline suggests

Last updated: May 2026

By Price County Fun Editorial Team | May 27, 2026

Price County’s April 2026 financial report contains a number that should make anyone paying attention to county finances sit up: March stumpage revenue fell 38.9% compared to March 2025. The county’s timber program brought in $64,255 in March 2026 versus $105,116 the year before.

Timber is not a side hustle for Price County. With roughly 575,000 acres of county forest land, the timber program generates more direct revenue than any other single county fund — $453,983 through the first four months of 2026 alone. The county budgeted $959,788 in timber revenue for the year. A sustained decline would affect everything from road maintenance to the county’s cash position.

But before sounding alarms, it helps to understand how timber revenue actually works , and why a single bad month does not necessarily mean the forest is failing.

How Stumpage Revenue Works

Stumpage is what loggers pay the county for the right to harvest standing timber. The county advertises timber sales, accepts sealed bids, and awards contracts. Loggers then cut the timber, haul it to mills, and pay the county based on the volume and species harvested.

This means revenue is lumpy by nature. A tract of mature aspen worth $50,000 might be harvested over two months , or stretched across four if weather, equipment problems, or mill schedules intervene. One large sale settling in January instead of March can swing both months dramatically. County forest revenue does not arrive in a steady stream like property taxes. It arrives in chunks tied to individual sales and harvesting schedules.

The Numbers Month by Month

Here is what the 2026 report shows compared to the same months in 2025:

Month	2026 Revenue	2025 Revenue	Change
January	$155,897	$131,792	+18.3%
February	$92,993	$98,743	-5.8%
March	$64,255	$105,116	-38.9%
YTD through March	$313,145	$335,651	-6.7%

January 2026 was actually stronger than January 2025 by 18.3%. February was down slightly. Then March fell off. The year-to-date figure through March was only down 6.7% , not 39%. By April, the YTD gap had widened to 11.4% ($453,983 vs. $512,238), which is more concerning but still well within the range of normal annual variation for a timber program.

The Most Likely Explanation: Spring Breakup

In northern Wisconsin, March is the month when winter ends and logging gets complicated.

During winter, frozen ground allows loggers to access wetter, lower-lying stands that are impassable during warmer months. Roads stay solid. Trucks can haul heavy loads without sinking. January and February are typically the most productive months of the year for exactly this reason.

Once the frost comes out of the ground , which can happen quickly in March , township and county forest roads are posted with weight restrictions or closed entirely. Loggers pull equipment off sensitive sites. Hauling slows or stops until conditions dry out.

This transition is called “spring breakup,” and it is the single biggest factor in March timber revenue volatility across northern Wisconsin counties. A mild March where the ground thaws early can cut the logging season short by weeks. A cold March that stays frozen can extend it. The difference between the two scenarios can easily explain a 38.9% swing.

The pattern in Price County’s numbers is consistent with spring breakup: January strong (still frozen), February dipping slightly, March falling sharply as roads close. This is not speculation , it is how logging works in the Northwoods, and anyone who has driven a truck on a frozen county road in February and tried the same road in April understands it viscerally.

Other Factors at Play

The Carbon Credit Contract: 92,000 Acres With Strings Attached

There is another factor that the monthly numbers alone do not reveal. In December 2021, Price County signed a carbon credit contract with Bluesource (now Anew Climate), committing 92,000 acres of county forest land — roughly 16% of the county’s total forest acreage — to a program that sells carbon offsets on the voluntary market. As Price County Fun has reported, as of 2023, the county had received zero payments from this contract.

Carbon credit contracts work through a mechanism called “additionality.” The county must demonstrate that its forest management practices under the contract sequester more carbon than would have occurred without the contract. In practice, this can mean committing to longer harvest rotations, reduced harvesting, or other management changes that reduce the timber revenue the county forest normally generates.

If 92,000 acres of county forest are operating under harvest restrictions — even partial ones — that affects how much timber is available for sale in any given year. It may constrain which tracts can be offered for bid. It may mean fewer mature stands are available for harvest because they are locked into carbon sequestration commitments. The carbon contract does not show up as a line item in the monthly stumpage report, but it may be shaping what is available to cut.

Former District 5 Supervisor Jason Hastings, in his April 22, 2026 resignation letter, called the carbon credit deal a “fantasy world carbon credit financial entanglement” and an “unjustified financial maneuver.” The contract terms, including payment schedules, exit provisions, and harvest restrictions, have not been publicly disclosed by the county.

This means the March revenue drop could reflect not just spring breakup and market conditions, but also the cumulative effect of having 92,000 acres of forest land tied up in a contract that restricts harvesting and has produced no revenue in return.

Spring breakup is the most likely driver, but it is probably not the only one.

Timber sale timing. Stumpage revenue depends on when sales are actually harvested and scaled, not when they are bid. If one or two larger sales that would have settled in March were delayed , by logger scheduling, mill closures, or permit processing , the revenue simply shifts to a later month. The county might see a compensating bump in April or May.

Species and product mix. Not all timber is worth the same. Aspen pulpwood, the dominant product from county forests in this region, commands a lower price per cord than sawlogs or veneer-quality hardwoods. If the tracts harvested in March 2026 happened to be heavier in pulpwood and lighter in higher-value species compared to March 2025, the revenue per cord would drop even if harvest volumes were similar.

Mill demand. Pulpwood prices in Wisconsin have been under pressure in recent years as paper mills close or reduce capacity. If a regional mill took maintenance downtime in March or reduced purchases, buyers may have delayed harvesting contracts. Short-term demand fluctuations can move county timber revenue significantly in any given month.

Weather differences between years. March 2025 may have been unusually favorable for logging , extended cold, dry conditions , while March 2026 saw early thaw or repeated rain events. A few days of good versus bad hauling weather can move tens of thousands of dollars in a county this size.

Why It Matters Even If It’s Normal

Even if the March drop is entirely seasonal and the year-end total comes in close to budget, timber revenue volatility matters for a county that depends on it.

The county’s General Fund cash balance was $10,634,010 in April, down 11.2% from the same month last year. The county budgets $4.22 million in “use of fund balance” , savings , to cover annual operations. Timber revenue helps offset that draw. When stumpage comes in below projections, the gap is filled by reserves or by cutting other departments.

And there is a longer-term trend worth watching. Wisconsin’s county forest timber revenue has been under pressure for years. Paper mill closures in the region , including the Park Falls mill that shut down and restarted multiple times before its final closure , have reduced local demand for pulpwood, the primary product from Price County’s forests. County forests are also managing for longer rotations and more diverse species mixes, which is good for forest health but can mean lower short-term harvest volumes. And then there is the carbon credit contract: 92,000 acres of county forest locked into a program that may restrict harvests and has produced zero revenue since 2021. The combined effect of mill closures, harvest restrictions, and an unrewarding carbon contract is a county forest program that generates less money while operating under more constraints than ever.

What to Watch

The April and May numbers will tell the story. If stumpage revenue rebounds as loggers return to the woods after spring breakup, the March drop will look like noise. If it continues to lag, the county may need to revise its $959,788 annual projection , and explain what that means for the budget.

The county’s executive summary reports come out around the 21st of each month. The May 2026 report, which should be available in late June, will show whether April brought a recovery or whether the decline is spreading.

In the meantime, the forestry department that oversees all of this operates on a General Fund allocation of $3,500 per year. The county spends more on animal control ($8,988 budgeted) than on forestry administration. The timber program that generates nearly a million dollars annually in revenue is managed on what amounts to a rounding error in the sheriff’s budget.

Sources

Price County April 2026 Executive Summary, Office of Administration (obtained via public records request)
The Carbon Credit Trap: 92,000 Acres Locked Up While Price County Families Lose Their Homes — Price County Fun investigation into the Bluesource/Anew Climate contract
Jason Hastings, former District 5 Supervisor, resignation letter (April 22, 2026)
Wisconsin County Forests Association, timber market reports
Price County Fun, Sheriff & Jail = 42% of General Fund

This article is part of Price County Fun’s ongoing coverage of county finances and the timber economy. See also: Price County’s Sheriff and Jail Consume 42 Cents of Every General Fund Dollar and our county government coverage.

For more, see Price County agricultural data and farm statistics.
For more, see tax-delinquent property deal in Catawba.

Frequently Asked Questions

What are carbon credits and how do they affect Price County landowners?

Carbon credits allow landowners to earn money by preserving forested land instead of logging. In Price County, programs like the Family Carbon program and NCX have enrolled over 92,000 acres, raising concerns about long-term land use restrictions.

What is the property tax rate in Price County Wisconsin?

Price County’s property tax rate varies by municipality but is generally lower than the Wisconsin average, with mill rates between $15-$22 per $1,000 of assessed value depending on the school district and local levies.

How much of Price County is forested?

Over 80% of Price County is forested land, including county forests, the Chequamegon-Nicolet National Forest, and private timberlands. Logging remains a significant economic driver, generating millions in timber revenue annually.