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These purchase prices are set high enough to enable dairy processors to pay farmers at least the support price for the milk they use in manufacturing these products. The 2002 farm bill (P.L. 107-171, Sec. 1501) mandated a support price of $9.90/ cwt , effective through December 31, 2007, when the program by law was scheduled to expire.
Milk Income Loss Contract (MILC) Payments is the name given by USDA to the dairy farmer counter-cyclical payments program, authorized by the 2002 farm bill (P.L. 107-171, Sec. 1502, 7 U.S.C. 7982). Under the program, dairy farmers nationwide are eligible for a federal payment whenever the minimum monthly market price for farm milk used for ...
Generally, minimum fluid farm milk prices increase according to the distance from the basing point. When federal milk marketing orders began in the 1930s, Eau Claire, Wisconsin was viewed as the principal surplus milk production region in the nation and hence served as the basing point for most milk priced under federal milk marketing orders.
(The Center Square) – One of Wisconsin’s largest dairy groups says the latest milk marketing proposal isn’t a win-win for Wisconsin dairy farmers, but it’s not a guaranteed loss either.
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It provides primary funding for Dairy Management Inc. Dairy farmers fund this self-help program through a mandatory 15¢/cwt. ($3.31 per metric ton) assessment on all milk produced and marketed commercially in the 48 contiguous states. Dairy farmers can direct up to 10¢ of this assessment for contributions to qualified regional, state or local ...
For most of us who didn't study economics, inflation is a concept you notice only when the items you usually purchase are suddenly more expensive during your grocery shopping checkout. Primer ...
The Minnesota-Wisconsin price (M-W price), prior to May 1995, was a component of the basic formula price for farm milk formerly used in federal milk marketing orders. It represented a survey of the average price Minnesota and Wisconsin plants were paying farmers for Grade B milk to be used in processed dairy products.