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2016 was one of those years with very little volatility in Pennsylvania stumpage prices - usually we see numerous ups and downs in species averages. The current pattern is a sign of market stability. One notable trend, however, is that Black Cherry prices continue to decrease slightly over time in the Northern tier. We are also hearing about a strong demand for Ash, although no price spikes are shown in the TMR. Hardwood export markets broke records in some sectors in 2016, and forecasts for 2017 indicate another strong year.