Land and Crop Records and Reports for Tobacco Auctions
Tobacco Auctions in the leaf-producing states are on the rise according to recent Land and crops records and reports. The industry has made a come back in recent years after it became almost non-existent due to the Federal Government’s 2004 tobacco quota buyout program. In late October 2012 approximately 265,000 pounds of flue-cured and little burley tobacco moved into the trade at an auction held in the Old Belt Tobacco Sales warehouse in Rural Hall, North Carolina. This is the third year tobacco auctions have been held in the Rural Hall which is about 10 miles south of Winston-Salem. The auction brought very competitive prices compared to that of contract delivery stations.
Tobacco in North Carolina has been sold at auction since the late 1500’s when the New England region was still a colony. The traditional Tobacco Auctioneers and unique chant styles were filled with character, comedy and linguistically inexplicable. Many credit the importance of style in tobacco auctioneering and the centrality of the auctioneer to the sale of tobacco. Good auctioneers take seriously their duty to ensure that sales are fair for both buyers and sellers.
Brightleaf, also known as Flue-Cured Virginia, is the most popular tobacco crop in NC. For many years tobacco crop sales put food on the table, clothed the family, paid for college educations, bills, and afforded a decent lifestyle for many hard working Americans. Tobacco farmers are still a viable part of many communities in Forsyth County, NC.
Land and crops records and reports reflect an average price of just under $2.02 per pound and many of the lots brought $2.20 a pound which is very high. Along with high prices there were no rejections of bids by the farmers. The quantity of tobacco sold in 2011 grew significantly due to destruction caused by Hurricane Irene, but in 2012 premium tobacco was in no short supply.
Tobacco Auctions are not only doing well in North Carolina Markets but they have also seen success in Virginia, Kentucky and Georgia as well. Land and crop records and reports show that the Piedmont Warehouse in Danville Virginia operated a conventional auction this past season. Auctioneers are pleased with the results and found that some grades of tobacco brought higher prices than contract prices and there was plenty of demand. The first auction sold over 195,000 pounds at $1.98 a pound. Farmers were pleased to sell 100% of their production at auction and are building up trust to sell their tobacco at auction according to land and crops records and reports.
Selling commodities and crops at auction can be a good alternative to contracting, especially in a competitive market. To learn more about the advantages of the auction method, and how it can benefit you – Contact Myers Jackson or call us today at 800-711-9175. We also have additional information about land and crops records and reports, auction outcomes, real estate and farm auctions on our website at CertifiedLandAuction.com.
Posted by: Myers Jackson