Typically when a logger cuts "8 foot wood", we cut it 7'-6 inches because the paper mills do not care how long the wood is, just as long as it is not OVER 8 feet. Since they are paying by weight, what does it matter...7'-6" or 8'-0", but if it is 8"-1" it jams up the machinery, and they hate that. So the slashers, cut to length machines, etc, all are set to cut it 7'-6".
Did your cousin get screwed? No, you said so yourself when you said he "bought a truck load of wood". As firewood he lost quite a bit of wood if it had been bought by x amount of cord, but it was probably a load of hardwood going to a paper mill and got sold for firewood instead. Considering the lower cost he paid for it, it probably was still a good deal. He would be hard pressed to find a load of 8 foot wood that was actually 8 foot in length, if it was, it would be called firewood and would have been charged $20 more per cord. That is because when I cut tree length firewood I get $90 a cord; when I sell hardwood to a paper mill I get $70 a cord which is typical of most loggers here.
Why?
Because dealing with firewooders is such a pain. I can't just shove anything into the pile. No basswood, only a small amount of white birch and ash, but naturally they want beech, rock maple, and yellow birch. It also has to be a certain size. Not too big so it is a pain to handle, and not all small stuff either. Then there is no real assurance you will get your money unless it is paid for before the wood is unloaded. It is 10 times easier just to ship it to the paper mill on Friday morning and have cash in your hand that afternoon.