28 



The dark air-cured and dark fire-cured markets generally handle a very 

 small proportion of resale tobacco in comparison to the flue-cured and 

 burley markets. The auction sale in these markets, results in fewer 

 rejections by sellers and offers less opportunity for the speculative 

 purchaser. Both of the dark air-cured and two of the three dark fire- 

 cured tobacco markets of concern to this study handled less than 1 

 percent resales during the 1961-62 marketing season. The remaining 

 dark fire-cured tobacco market handled some 4 percent resales during 

 the same period. 



A distribution of first sale, resale, and total volume handled by the 

 23 markets in which cooperatives operate tobacco auction warehouses is 

 shown in table 12 for the 1961-62 marketing season. Table 13 presents 

 a distribution of the proportion of resale tobacco sold during the 1961- 

 62 marketing season by markets handling particular types. 



Market Prices 



During the period of the study, growers received highest prices for 

 burley tobacco, followed by flue-cured, with considerably lower prices 

 being obtained for both dark fire-cured and dark air-cured leaf. 



For burley, flue-cured, and dark fire-cured market areas, average 

 seasonal first sale prices, as compared to resale prices, varied less 

 among markets handling a particular type. 



The two dark air-cured markets are separated widely geographically and 

 each handles a different type of tobacco. For each market, the average 

 resale price was less than the average first sale price, although the 

 difference was much greater in the case of the market handling Green 

 River tobacco. 



Table 12. --First sale, resale, and total tobacco sale volume of Kentucky, 

 North Carolina, Tennessee, and Virginia markets in which co- 

 operative tobacco auction warehouses are operated, 1961-62 

 marketing season 



First 



sales 



Re 



sales 



Total 



Quantity 



Number of 

 markets 



Quantity 



Number of 

 markets 



Quantity 



Number of 

 markets 



Million 







Million 





Million 







pounds 





Number 



pounds 



Number 



pounds 





Number 



Less than 







Less than 





Less thai 



i 





10 





13 



0.5 



13 



10 





13 



10 to 20 





5 



0.5 to 1.0 



6 



10 to 20 





5 



More than 



20 



5 



More than 1 



.0 4 



More thai 



i 20 



5 



Total 





23 





23 







23 



