|Missouri Dairy Business Update|
|Volume 4, Number 7|
MILC Renewal Legislation
The Milk Income Loss Contract (MILC) payments program will expire in 13 months unless it is extended by new legislation. While milk prices have been strong enough not to trigger the MILC payments since April 2004, at current futures prices, the MILC payments will begin again on milk produced in December 2004.
Legislation has been introduced in the U.S. Senate and the U.S. House to extend the MILC program through 2007. In the House, the bill is HR 3990. In the Senate the bill is S 2609. The current status of both bills may be checked at: http://thomas.loc.gov/
National Dairy Equity Act Legislation
The National Dairy Equity Act, (NDEA), is alternative legislation to the MILC program. Under NDEA, milk deficiency payments to dairymen would be funded by over-order prices on Class I milk. The prices would be different for each dairy marketing area. A PowerPoint presentation created by the Food and Agriculture Policy Research Institute that describes the act may be downloaded at:
National Dairy Equity Act legislation has been introduced in the Senate and the House. In the House, the bill is HR 4597. In the Senate the bill is S 2525. The current status of both bills may be checked at: http://thomas.loc.gov/