Section 1 Short title
This Act may be cited as the “Dairy Pricing Opportunity Act”.
Dairy Pricing Opportunity Act
A BILL
To require the Secretary of Agriculture to initiate hearings to review Federal milk marketing orders relating to pricing of Class I skim milk, and for other purposes.
Sec. 2 Notice and hearings
In general— Not later than 180 days after the date of enactment of this Act, the Secretary of Agriculture shall provide notice of, and initiate, national hearings to review Federal milk marketing orders under section 8c(3) of the Agricultural Adjustment Act (7 U.S.C. 608c(3)), reenacted with amendments by the Agricultural Marketing Agreement Act of 1937, which shall include review and consideration of views and proposals of producers and the dairy industry on the Class I skim milk price, including the “higher of” Class I skim milk formula described in subsection (b) and any other views and proposals on the Class I skim milk price, and such other matters as the Secretary of Agriculture considers appropriate.
“Higher of” Class I skim milk formula described— The “higher of” Class I skim milk formula referred to in subsection (a) is the formula under which, for purposes of determining prices for milk of the highest use classification, the Class I skim milk price per hundredweight specified in section 1000.50(b) of title 7, Code of Federal Regulations (or successor regulations), is equal to the sum obtained by adding—
the adjusted Class I differential specified in section 1000.52 of that title (or successor regulations);
the adjustment to Class I prices specified in sections 1005.51(b), 1006.51(b), and 1007.51(b) of that title (or successor regulations); and
the higher of—
the advanced pricing factor computed under section 1000.50(q)(1) of that title (or successor regulations); and
the advanced pricing factor computed under section 1000.50(q)(2) of that title (or successor regulations).