No.  Sometimes there are bugs known as powder post beetles that bore into the wood.  Usually when our wood goes through the kiln drying process it takes care of anything that could have crawled into it at one point.  Occasionally, there is one in there that somehow survived the harsh heat of the kiln.  A simple borax treatment and also some other treatments will take care of it immediately.  We always pick choice boards and are careful to avoid these things, but we are humans and not robots making furniture so sometimes a little stinker makes its way in.  Powder post beetles are not harmful to the wood like termites would be.  Also, all of our wood is mostly Midwest barns and between the cold winter months and the hot humid summer months, anything that would have tried to make a home inside the wood, leaves.