By Blake Jackson
The Farm Bill is a major piece of legislation that provides financial assistance to farmers and funds nutrition programs. The current Farm Bill technically expired on Saturday but remains funded through the end of the year.
Agriculture experts are warning that politicians need to work quickly on passing a new Farm Bill before adverse effects hit farmers and consumers. One key program that could be impacted is the Dairy Margin Coverage (DMC) program, which offsets the cost of milk for farmers. If there is no new Farm Bill or extension, the DMC program will revert back to a 1949 law that would set prices relative to the 1910s.
The Congressional Research Survey estimates that milk would be priced at $50.70 per 100 pounds under the 1949 law, which is 2.5 times higher than the current price of milk. Agriculture experts believe it is unlikely that milk prices will actually reach this level, but they are warning that a delay in passing a new Farm Bill could cause market disruptions and upend milk prices for farmers and consumers.
The New York Farm Bureau is urging Congress to pass a new Farm Bill as soon as possible. The Farm Bureau is concerned that a delay in passing a new Farm Bill could have negative ramifications for farmers and consumers and is hopeful that Congress can avoid a repeat of the “dairy cliff” of years past.
It is unclear when Congress will pass a new Farm Bill. However, agriculture experts believe that it is likely that the current Farm Bill will need to be extended in order to continue funding some programs.
Categories: New York, Livestock, Dairy Cattle