- 12 - 
BURL2Y 
Durley Prices Ab out One-fifth Above Last Year 
A strong demand for Burley pushed prices of- December sales to an average 
of cents per pound corn-oared with Uo.8 for December 19^0. After the holi- 
days, prices were a little higher but dro"0"oed during the last half of January. 
Auction prices averaged Ug.2 cents compared with 40.2 cents for January a year 
a^o. The generally high quality of the tobacco and the larger proportion of 
cigarette grades contributed to the higher prices. In addition, the ig- x 7 crop 
was considerably smaller than the 19^6 crop and the national marketing quota for 
19^8 indicates a small reduction in acreage. The 19^7 average loan rate is 
^0.3 cents per -round, 20 percent above -the 19^6 average loan rate of 33*^ cents. 
The increase in the s,unroort level reflects the increase in the index of -or ices 
paid by farmers from September to September 19^7. 
Much less Burley has been placed under government loans than during the 
I9U6 marketing season. The quantity delivered to Associations to be placed 
under government loans was only about 1/2 percent of marketings though January 
when about 90 percent of the crop had been marketed. last seasor., almost 25 per- 
cent of the 19 u 6 crop was placed under government loan. 
> 
Table Burley tobacco: Domestic supplies, disappearance and season 
average price, average 193^-3'* » annual 1939-^7 1/ 
Year 
Stocks 
Total : 
Disappearance 
: Average 
: Production 
October 1 
supply 
year beginning 
: or ice per 
October 1 
pound 
. Mil. lb. 
Mil. lb. 
Mil. lb. 
Mil. lb. 
Cents 
Average 
!93 k -38 
: 2g7.2 
700.9 
48 8.1 
31^.5 
22.2 
1939 • 
! 395.3 
68-U.O 
1,079.3 
317.1 
17.3 
I9U0 
: 376.6 
762.2 
1, 13S.8 
. 3^0.8 
lb. 2 
: 336.9 
79^.0 
1,134.9 
379.6 
2°. 2 
19^? ! 
3 U 3.5 
7^5.3 
1,098.8 
-12.8 
Ui .g 
I9U3 I 
392.1 
68^.0 
1,078.1 
. ^26.9 
U5.6 
194U • 
500. -6 
651.2 
1,241.8 
482,8 
19 U 5 ■ i 
577.-2 
759.0 . 
1, 336.2 
^82.9 
39.4 
I9U6 2/ : 
61U.0 
^53.3 
1.^7-3 
526.5 : 
3 y -7 
19^7 2/ : 
518. 6 
9U0.8 
1.-59.U 
1/ Farm-sales weight. 
2 1 Preliminary. 
