Forest Products Numbers and Dam Removal Signed
California Governor Jerry Brown, Secretary of the Interior Sally Jewell and Oregon Governor Kate Brown have signed an agreement to remove 4 hydroelectric dams from the Klamath River and it marks one of the largest river restoration projects in history. The agreement is touted to protect farmers and ranchers from rising power and water prices in addition to allowing the return of salmon to spawning grounds. The agreement has been signed without the approval of Congress but backers of the deal hope that by providing price assurances to farmers will make it an easier sell for Congress. Not everyone is in favor of the agreement. Even farmers worry they'll have to install expensive screens to keep salmon out of irrigation pumps and canals.
The forest products industry remains stable, with prices for logs and lumber expected to increase as the U.S. economy strengthens. Each quarter, Northwest Farm Credit Services takes a look at how the industry is faring. Michael Stolp, Northwest Farm Credit Services, Vice President of Customer Insights takes a look.
STOLP: The forest products industry continues to experience a lethargic but sustained recovery as demand increases. Support by employment and household formation increases. Demand improvements are met with increasing lumber supplies from the U.S. and Canadian imports. Overall, results for forest products companies in 2015 are below 2014 performance.
That's today's Northwest Report. I'm Greg Martin on the Ag Information Network of the West.