An analysis of lumber prices provided regressions for price trends during the period 1971-95 for composite lumber grades of major timber species found in the Pacific Northwest west of the crest of the Cascade Range. The analysis included data for coastal Douglas-fir and hem-fir lumber; coastal and inland Pacific Northwest ponderosa, sugar, and western white pines; and inland Pacific Northwest and Rocky Mountain lodgepole pine. Future prices of grades by species group are based on these price trends and the latest average regional lumber values established in the Timber Assessment Market Model (TAMM). Land managers can use the price projections in financial analyses of management practices that are designed to affect the quality of timber resources.