|Missouri Dairy Business Update|
|Volume 8, Number 6|
U.S. Farm Bill Implications for Dairy
University of Wisconsin has published a paper detailing the ramications of the passed 2008 USDA Farm Bill for the U.S. dairy industry. Some of the highlights of 2008 Farm Bill for dairy include (excerpted from the actual paper):
• The Milk Price Support Program is re-named the Dairy Product Price Support
Program. USDA continues to purchase butter, nonfat dry milk and cheddar
cheese to at the same prices applicable under previous legislation, but the prices
are no longer linked to a support price for milk.
• The farmer-funded dairy promotion program is changed to require assessments be collected from previously-exempted dairy farmers in Alaska, Hawaii and Puerto Rico. Imports will be assessed at a rate one-half the rate applying to U.S. milk production.
• The Dairy Forward Pricing program that operated on a pilot basis from 1999
through 2004 is reinstated as part of the new Farm Bill.
• USDA is required to take steps to expedite the process of amending Federal Milk Marketing Orders.
• USDA is required to study the impact of trade misreporting of nonfat dry milk
prices and sales volume on Federal Order minimum prices.
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