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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. [citation ...
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 ...
The agricultural policy of the United States is composed primarily of the periodically renewed federal U.S. farm bills.The Farm Bills have a rich history which initially sought to provide income and price support to US farmers and prevent them from adverse global as well as local supply and demand shocks.
“California has the unique opportunity to establish a price floor on milk that does not prioritize export nations’ wants, but farmers’ needs.”
Once again, the Omnibus Budget Reconciliation Act of 1987 (P.L. 100–203) not only set the 1988 fiscal year budget for agriculture and all federal agencies, but also set target prices for 1988 and 1989 program crops, established loan rates for program and non-program crops, and required a voluntary paid land diversion for feed grains. P.L. 100 ...
The $300 million in loans were claimed in just 11 days, which raised concerns that the program was helping people who could already afford it. This led to the California Housing Finance Agency and ...
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