International log prices are at record levels due to strong demand from China as other supply lines dry up. But the high in-market prices in New Zealand are being offset by expensive shipping, meaning returns at the wharf-gate have only increased slightly.  Domestic demand in New Zealand remains strong but some mills are struggling to run at a profit. Most don’t compete directly for logs as mills typically source high-grade pruned logs, while unpruned logs are exported. However, export prices do underpin the price that mills need to pay for logs.  ...