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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 $9.90/ cwt , effective through December 31, 2007, when the program by law was scheduled to expire.
Utilization rates (milk) In United States agricultural policy, utilization rates refer to the percentage of milk in federal milk marketing orders that is used in each of the classes: Class IV (butter and nonfat dry milk), Class III (cheese), Class II (all other manufactured products), Class I (milk used for fluid consumption). Utilization rates ...
Classified pricing. Classified pricing is the pricing system of federal milk marketing orders, under which milk processors pay into a pool for fluid grade (Grade A) milk. The price that processors have to pay into the pool is based on how the milk ultimately is used. Milk used for fluid (Class I) consumption generally receives the highest price ...
The 1996 Farm Bill required the USDA to consolidate the number of federal milk marketing orders and to revise the method by which minimum class prices are determined. The USDA implemented these changes in 2000. There are now 10 milk marketing orders, down from 31 when the law was enacted. Raisins
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Class III Milk: 200,000 lb: USD ($) Chicago Mercantile Exchange: DC Cash-settled Butter: 20,000 lb (~9 metric tons) USD ($) Chicago Mercantile Exchange: CB Non-fat Dry Milk: 44,000 lb (~22 metric tons) USD ($) Chicago Mercantile Exchange: GNF Whole milk powder: 1 metric ton: USD ($) Singapore Exchange: WMP Skim Milk Powder: 1 metric ton: USD ...
A basing point is a geographical site used to establish minimum fluid milk prices for federal milk marketing orders. Generally, minimum fluid farm milk prices increase according to the distance from the basing point. When federal milk marketing orders began in the 1930s, Eau Claire, Wisconsin was viewed as the principal surplus milk production ...
US$ 14.7 billion (2017)[1] Net income. US$ 131.8 million (2016) Number of employees. 18,000. Website. dfamilk.com. Dairy Farmers of America Inc. (DFA) is a national milk marketing cooperative in the United States. DFA markets members' raw milk and sells milk and derivative products (dairy products, food components, ingredients and shelf-stable ...