The cache is not at the posted coordinates! This is a multicache.
The posted coordinates are the first stop of a 2-step multicache. The coordinates to Stage 2 (final) are N 44° AB.CDE′ W 123° FG.HIJ′. Go to the posted coordinates and take a look at the sign on the left, noting the 10 agency logos at the bottom right on the sign. The 5 agencies on the top row make up the North minutes (AB.CDE), and the 5 agencies on the bottom row make up the West minutes (FG.HIJ). Organize the agencies below in the order they appear on the sign. Then enter those coordinates into your GPS device, and off you go!
American Bird Conservancy = 3
American Forest Foundation = 6
Defenders of Wildlife = 8
Oregon Department of Forestry = 1
Oregon Fish and Wildlife = 2
Oregon Small Woodlands Association = 4
Oregon State University = 3
The Nature Conservancy = 2
US Fish and Wildlife Service, Dept of the Interior = 3
US Forest Service, Dept of Agriculture = 6