Adamal,
Moisture meters work by measuring the electrical resistance (or, more correctly, conductance) between the two pins along the grain. Wood, even dry wood, will conduct some electricity... it's just not a very good conductor. However, the higher the moisture content of the wood, the better its conductance until it reaches a point, called the saturation point where conductance stops increasing. The rub is, the ratio of moisture content to conductance is not linear... adding x-amount of moisture does not equal x-amount of conductance, it varies with moisture content and species.
Keep in mind, when you use a moisture meter, you are only measuring the electrical conductance between the two pins... you are not measuring the entire piece of wood, and you are not measuring moisture content, the meter simply reads out a (supposed) moisture content based on the conductance measurement. The reason for the lower moisture reading (or higher electrical resistance, or decreased electrical conductance) the day after splitting is because the outer surface of the wood dries rapidly. And the less dense the wood is, the deeper that rapid drying over a given time period. And you're measuring the surface, and only between the two pins... not the entire piece of wood.
The moisture content of wood is stated as weight ratio... the ratio of moisture weight to dry wood weight. If you have a 30 pound piece of wood at 50% moisture content... it contains 10 pounds of moisture and 20 pounds of wood. In other words, the moisture weighs 50% of what the wood weighs without the moisture. If you have a 30 pound piece of wood at 100% moisture content... it contains 15 pounds of moisture and 15 pounds of wood. In other words, the moisture weighs 100% of what the wood weighs without the moisture. So, if you have two pieces of wood, one oak and the other elm, both measuring one cubic foot, and both at 25% moisture content the cubic foot piece of oak will contain a lot (
a lot) more moisture than the cubic foot of elm, because the oak is much denser (heavier) than the elm.
Now understand, the electrical conductance, at any given moisture content, is not the same for different species of wood. Grain straightness, density, cell structure, deterioration over time, temperature, and many other things also effect electrical conductance. Meaning your moisture meter cannot possibly be accurate in all species of wood... or at all temperatures. Likely it is calibrated for dimensional lumber at 65°, pine and/or fir boards used for construction. Your moisture meter is a gadget... you can use it to make rough comparisons, but that's about it. Let's say you measure some wood in June at 28%, and then again the same wood in September at 17%; the most you can claim it the wood has lost some amount of moisture... but you cannot say with any confidence it has lost 11% (28-11=17) because the moisture-conductance ratio is not linear, is not the same per species of wood, and is effected by temperature. To get anything close to an accurate comparison, you would need to be able to calibrate your meter for species and temperature at each measurement (or know the temperature calibration and do the correction calculation).
Have fun with your moisture meter, it's a tool (or gadget) that many find useful... but it does not eliminate the need to use common sense, experience, and plain gut feeling when determining if your firewood is ready for the firebox. Personally, I don't own one... it really cannot tell me anything I don't already know using traditional guesstimating methods.
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