Economic Policies

Current News and Highlights for Economic Policies

2014 Farm Bill Creates Entirely New Dairy Safety Net

The Farm Bill, passed by Congress in February 2014, eliminates the outmoded and ineffective Dairy Product Price Support Program and the Dairy Export Incentive Program. The Federal Milk Marketing Order Review Commission established in the previous farm bill is also eliminated.

Once the Margin Protection Program is up and running, the Milk Income Loss Coverage, or MILC, program will also be eliminated.

MILC Program Extended Temporarily by Congress as Part of Farm Bill Package

The Milk Income Loss Contract (MILC) program was temporarily reauthorized by the Farm Bill passed by Congress and signed by the President in February 2014. 

The farm bill extended the MILC program through the end of August, 2014. At this time, NMPF does not project that USDA will announce any positive MILC payment rate for the months between now and August, when the program ends.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Resource Center for the Dairy Industry on Economic Policies