Empirical analyses of interlinkages and price dependencies in the forest-based sector support the forecast of market developments and the design of efficient utilization pathways. This article aims at analysing price cointegration between roundwood (sawlogs, pulpwood), sawmill by-products (sawdust, wood chips) and wood products (pellets, particle board) in the forest-based sector in Austria. Monthly price data for the period 2005–2019 were used for the following statistical tests: (1) The Augmented-Dickey-Fuller and Zivot-Andrews unit root tests were conducted to investigate stationarity of the data; (2) The Johansen Cointegration test was pairwise applied to price time series; (3) The Granger Causality test was used for cointegrated time series to examine which one is price leading. Furthermore, sawmill by-product prices were modelled as Vector Error Correction Models (VECM) to analyse their common behaviour. The dataset was divided to a training (2005–2017) and test (2018–2019) subset to assess the prediction accuracy of the models. The training data were used to estimate a VAR model as basis for forecasts, which were compared to the test data. Results show that sawdust prices are cointegrated and thus modelled with pellet and particle board prices. In contrast, wood chips are used for several applications and thus prices are cointegrated and modelled with prices of sawlogs, pulpwood, pellets and particle board. The comparison with the test data showed that forecasts were able to predict data from 2018 to 2019 well. However, a decrease in prices, starting in 2019 and intensified by the Covid-19 pandemic, could not be fully captured by these forecasts.

对以森林为基础的部门的相互联系和价格依赖性的实证分析支持市场发展的预测和有效利用途径的设计。本文旨在分析奥地利森林部门的圆木（锯木、纸浆木）、锯木厂副产品（锯末、木片）和木制品（颗粒、刨花板）之间的价格协整关系。2005-2019 年的月度价格数据用于以下统计检验： (1) 进行了 Augmented-Dickey-Fuller 和 Zivot-Andrews 单位根检验以研究数据的平稳性；(2) Johansen 协整检验成对应用于价格时间序列；(3) 协整时间序列采用格兰杰因果检验，检验哪个价格领先。此外，锯木厂副产品价格被建模为向量误差校正模型 (VECM)，以分析它们的共同行为。数据集分为训练（2005-2017）和测试（2018-2019）子集，以评估模型的预测准确性。训练数据用于估计作为预测基础的 VAR 模型，并将其与测试数据进行比较。结果表明，锯末价格是协整的，因此与颗粒和刨花板价格建模。相比之下，木片用于多种应用，因此价格与锯木、纸浆木材、颗粒和刨花板的价格进行协整和建模。与测试数据的比较表明，预测能够很好地预测2018年至2019年的数据。但是，从 2019 年开始并因 Covid-19 大流行而加剧的价格下跌，