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DewDiligence

07/24/20 3:10 PM

#22620 RE: semi_infinite #22619

WY does not hedge lumber prices, as far as I know. WY’s manufacturing segment (lumber, OSB, and other wood-based construction materials) comprises less than half of WY’s operating profit—the larger portion comes from timberland cutting fees and land sales to developers.

WY is a pretty good long-term inflation hedge insofar as the land value of the company’s timber is the bulk of the company’s asset value.