Dairy Pricing Reform: Hearings and Mandatory Reporting of Processing Costs.
This Act mandates the Secretary of Agriculture to initiate national hearings to review Federal milk marketing orders, specifically focusing on the pricing formula for Class I skim milk. This review aims to potentially change the pricing structure, which could impact farmers' incomes and consumer prices for dairy products. Furthermore, dairy manufacturers will be required to report detailed cost and yield information for processing, increasing market transparency.
Key points
Milk Price Review: National hearings must begin within 180 days to review and potentially change the pricing formula for Class I skim milk, including considering a new, potentially higher pricing formula.
Increased Cost Transparency: Dairy manufacturers must mandatorily report cost and yield information for all products processed in their facilities.
Public Reports: The Secretary of Agriculture must publish reports every two years containing the collected dairy processing cost data to aid in establishing fairer market pricing rules.
Status:
Expired
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