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The farm bill also established a Milk Income Loss Contract (MILC) program that makes direct payments to participating dairy farmers whenever the minimum monthly market price for farm milk used for fluid consumption in Boston falls below $16.94 per hundredweight (cwt.). The MILC program has been reauthorized until September 30, 2012.
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 ...
Since corn is a major input cost to hog producers, the higher the price of hogs relative to corn, the more profit there is in feeding hogs. [1] In dairy farming, the milk-feed price ratio is a measure of the value of 16% protein ration to one pound of whole milk. As with the hog/corn ratio, this relationship is an indicator of the profitability ...
According to The New York Times, if the current Farm Bill expires and the pricing equation reverts to its 1949 standard, the government will pay considerably more for milk.
Producers who elected to participate in the program and reduce their milk marketings by between 5% and 30% below their base production were paid $10 per hundred pounds (cwt.) for these reductions. For a 16-month period (12/1/83- 3/31/85), all dairy farmers were assessed 50¢/cwt. on all milk marketed to help defray the cost of the diversion ...
Butter-Powder Tilt is the price adjustment strategy in United States, which requires the USDA to support the farm price of milk at $9.90 per cwt. by standing ready to purchase surplus butter, cheese and nonfat dry milk when wholesale prices for these commodities fall below administratively set levels.
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 ...
In the 2002 Farm Bill, a support program, Milk Income Loss Contract Payments, for participating dairy farmers nationwide was enacted, allowing for subsidies when the price falls below 16.94 per cwt. [2]