COUNCIL STAFF OPPOSES INCREASE IN MILK PRICE SUPPORTS

by Council on Wage and Price Stability on March 4, 1977
by Council on Wage and Price Stability

 

The Council on Wage and Price Stability (Council) staff hereby submits its comments to the Department of Agriculture (USDA) in response to a notice in the Federal Register soliciting data, views, and recommendations on the price support program for milk (42 FR 8663). The Secretary of Agriculture is currently considering the terms and conditions of the price support program for milk for the 1977-1978 marketing year beginning April 1, 1977. Under the Agricultural Act of 1949, as amended, the support price is set between 75 and 90 percent of parity and is achieved by the willingness of the Commodity Credit Corporation (CCC) to purchase manufactured products (butter, nonfat dry milk, and cheese) at prices designed to return the support price to the farmer.

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