Particularly on private forest land not controlled by forest industry, southern pine stands often are not regenerated after harvests. While yields may be highest with very intensive site preparation and planting, lower cost methods are effective, and economic returns associated with them can be quite attractive. An internal rate of return of 10.8 percent after taxes and inflation can be obtained from natural regeneration with some control of competition at harvest plus a program of prescribed burning. Using similar vegetation control measures and planting seedlings increases wood yields, and the associated rate of return is 10.1 percent.