§7981 Milk price support program

Summary

The Agriculture Secretary must support milk prices in the 48 contiguous States from June 1, 2002, through December 31, 2007. To do this, the government will buy cheese, butter, and nonfat dry milk made from that milk. The support level is $9.90 per hundredweight for milk that has 3.67% butterfat. The Secretary will set one purchase price for each product that applies to all sellers. Prices must let an average-efficiency plant pay farmers at least the $9.90 support rate. The Secretary can move support between butter and nonfat dry milk to lower Commodity Credit Corporation costs or meet other goals. Any allocation change must be told to the House and Senate agriculture committees within 10 days. The normal notice-and-comment rule process (section 553 of title 5) does not apply. Changes between butter and nonfat dry milk prices may be made no more than twice a year. The Commodity Credit Corporation will run the program.