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Code · BILL · 113th Congress · H.R. 1947 (Introduced in House) — To provide for the reform and continuation of agricultural and other programs of the Department of Agriculture throug... · Sec. 1402

Sec. 1402. Calculation of average feed cost and actual dairy producer margins

259 words·~1 min read·/bill/113/hr/1947/ih/section-1402

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The Secretary shall calculate the national average feed cost for each month using the following data: The price of corn for a month shall be the price received during that month by farmers in the United States for corn, as reported in the monthly Agricultural Prices report by the Secretary. The price of soybean meal for a month shall be the central Illinois price for soybean meal, as reported in the Market News-Monthly Soybean Meal Price Report by the Secretary. The price of alfalfa hay for a month shall be the price received during that month by farmers in the United States for alfalfa hay, as reported in the monthly Agricultural Prices report by the Secretary.
For use in the margin protection program under subpart A, the Secretary shall calculate the actual dairy producer margin for each consecutive two-month period by subtracting— the average feed cost for that consecutive two-month period, determined in accordance with subsection (a); from the all-milk price for that consecutive two-month period. For use in the stabilization program under subpart B, the Secretary shall calculate each month the actual dairy producer margin for the preceding month by subtracting— the average feed cost for that preceding month, determined in accordance with subsection (a); from the all-milk price for that preceding month.
The calculations required by paragraphs
(1)and
(2)shall be made as soon as practicable each month using the full month price of the applicable reference month, but in no case shall the calculation be made later than the last business day of the month.
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