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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.
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.
The compact created a Northeast Dairy Compact Commission, based in Montpelier, Vermont, charged with setting prices and regulating bulk milk handlers.From 1997 until its expiration on September 30, 2001, the Northeast compact required processors in the region to pay dairy farmers at least $16.94/cwt. for farm milk used for fluid consumption.
The dairy industry in the United States includes the farms, cooperatives, and companies that produce milk, cheese and related products such as milking machines, and distribute them to the consumer. By 1925, the United States had 1.5-2 million dairy cows, each producing an average of 4200 lb of milk per year.
The international market price of wheat doubled from February 2007 to February 2008 hitting a record high of over US$10 a bushel. [92] Rice prices also reached ten-year highs. In some nations, milk and meat prices more than doubled, while soy (which hit a 34-year high price in December 2007 [93]) and maize prices have increased dramatically.
Dairy products or milk products, also known as lacticinia, are food products made from (or containing) milk. [1] The most common dairy animals are cow , water buffalo , nanny goat , and ewe . Dairy products include common grocery store food around the world such as yogurt , cheese , milk and butter .
The price of milk that was going to urban areas for bottling was around $1.50 for a hundred pounds while the milk going to cheese and butter factories was only $0.85 for a hundred pounds of milk. [2] This created a kind of civil war between the two types of dairy farmers. Milk to be bottled was largely unaffected by the strikes.
Cow Milk Production by State in 2016 After a brief rise following the Great Recession of 2008-9, milk prices crashed again in the late 2010s to well under $3 a gallon at major grocers in the United States. Pennsylvania has 8,500 farms with 555,000 dairy cows. Milk produced in Pennsylvania yields an annual revenue of about US$1.5 billion. [70]