A container of draft beer is substantially filled with beer having a volume of dissolved carbon dioxide greater than 2.6 and not more than 3.1 times the volume of beer. The beer is packaged in a plastic container that is slightly permeable to carbon dioxide, but retains a satisfactory dissolved carbon dioxide content even after a normal shelf life. Beer is dispensed by gravity, without use of external pressure source, after release of head space pressure. Moreover, when the container contents are partially dispensed by the consumer and then maintained at appropriate low temperature for several days, the remaining beer still retains a satisfactory volume of dissolved carbon dioxide. A spigot on the container employs a barrel valve closure member that seals the pressurized container and is movable to a pressure release position in which pressurized gas within the container is slowly released without forcibly projecting container contents. The barrel valve closure is movable to a dispensing position in which the contents of the container are smoothly dispensed while air is admitted to avoid a blocking vacuum.