I can get utility wood, white pine, hemlock, yellow pine (shortleaf) and tulip poplar for $0.50-0.60/ bdft. I usually get 1" x 8" and It's mostly clear Ralph saws straight boards. It seems I'm getting about 25% waste, straightening and cutting to length that doesn't include the wood i plane off of shrinkage. For example if you need two 1x6x40 boards you can make a 1x2 and you can keep the end piece but you can only store so many scraps. If you need two 1x4x92 that's most of the board.
I'm beginning to find the value in rough cut is using the wood. If i need a 3 foot board i can spend 5 minutes digging through the scrap bin or i can cut 3 feet off a board
So when I buy hardwood for a project i think I'll need to plan on buying an extra 25%