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Weekly Farm Price
O'Ulook
BARLEY
Barley prices last year held steady during harvest and there’s no indication row that this year will be any different.
March 1 acreage reports show the nation up five per cent but Virginia’s acreage down two per cents from last year. ' Total stocks on and off farms as of April 1 soared to a record 288 million bushels for the nation. Of this, 60 per cent is under the loan program.
It looks as if Virginia may have a somewhat shorter supply this year than last. Coupled with the two per cent reduction in acreage is recent heavy lodging caused by wind and rain. This could result in a considerable reduction in yield for the state.
With the market price where it is now, there is no basis for justifying storage of barley; for later sales. In Richmond and in Rapidan barley was bringing $1 a bushel. Norfolk buyers were paying 95 cents and in the Shenandoah Valley barley was bringing $1.10 to $1.20. Virginia support price is 88 cents this year.
Estimated receipts in the Virginia auctions increased 18 per cents over the previous week. Receipts in the 12 major "‘markets were down two per cent compared with the previous week and up seven per cent over the corresponding week a year ago.
63.3%