JANUARY 1948 
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Situation and outlook for the various types of to bacco : 
Flue - cured . Marketings of the 1947 crop are completed and prices re- 
ceived averaged about 41.0 cents, 15 percent below last season. Smaller pur- 
chases for exports was a major cause of the decline. Supplies of flue-cured 
are the highest on record due to the large carry-over and the near-record 
1947 crop. Although domestic consumption will continue high in 1947-48, 
exports will be lower than in 1946-47 • The national marketing quota announced 
for 1948 means a reduction of about 27 percent in allotted acreage. Even 
with this reduction, total supplies for the 1948-49 marketing year are likely : 
to be above those for any year except 1947-1+8. About 16 percent of the 194-7 
crop was placed- under government loans, 
Bur ley . Prices for the 1947 crop have averaged about 48.5 cents per 
pound compared with 39*7 cents for the 1946 crop. Good quality tobacco, a 
large proportion of cigarette grades, and large disappearance during 1946-47 
were major price factors. Bur ley exports during the year ending September 3O 
were a record. Though supplies for 1947-48 are' slightly lower than for 1946-47", 
they are still large . The announced 1948 marketing .quota will mean about 6 or 
7 percent reduction in allotted acreage. Government loan stocks of 1946 bur ley 
are still substantial. • : - 
Maryland. Supplies- are large. High cigarette consumption is expected 
to exert a favorable price influence when Maryland is marketed during 1948. 
However, exports are uncertain. A smaller 1948 acreage goal than that harvest- 
ed in 1947 has been suggested. 
Fire - cured and Dark Air -c ured . Supplies of both are large. Both have 
been particularly hard hit by the decline in exports although a larger pro- 
portion of fire -cured than dark air-cured production normally is exported. 
Except for Virginia fire-cured, prices have been higher this year than last, 
primarily because of the higher support level. The average loan rate is 20 per 
cent above last year which reflects the increase in the index of prices paid 
by farmers for family living and production items. Large proportions of the 
marketings of most of these types have been received. for government loans. 
Substantial quantities of the 1946 crous were also placed under government 
loans. The 1948 marketing quotas cr.ll for a 35 percent decrease in fire- 
cured allotted acreage and a 25 percent decrease in dark air- cured (except 
type 37) t '•" , ; w , . 
Cigar Filler , Binder , and Wrapper . . Cigar filler supplies are slightly 
under a year ago while cigar binder supplies, exceed last year by 9 percent. 
Domestic wrapper supplies are close to last year and continue to be of vital 
importance to cigar production as not enough imported wrappers will be avail- 
able for some time. Connecticut Valley Havana Seed (type 52) sold at prices 
similar to last season. The other Connecticut Valley binder known as Broad 
Leaf (type 51) was damaged considerably by pole sweat. 
