Considering the insufficient knowledge on plywood manufacture and related woodproperties of loblolly pine grown in China,wood density,hardness and MOE with grain per-pendicular to testing span were determined, and veneer peeling tests under various cuttingconditions were made,Based upon test results,relationship of wood properties to proper ve-neer peeling conditions and veneer qualities were analyzed. Wood properties proved to haveconsiderable effects on veneer qualities and proper cutting conditions. High quality veneer canbe obtained under proper peeling conditions.