Dairy Pricing Opportunity Act of 2023

Dairy Pricing Opportunity Act of 2023

This bill directs the Department of Agriculture (USDA) to hold national hearings to review Federal Milk Marketing Orders. (USDA uses these orders to establish a minimum price for various classes of milk.) The hearings must include the review of proposals from producers and the dairy industry on the price of Class I skim milk.

The bill also requires manufacturers to report cost and yield information for all dairy products processed in the same facility or facilities to USDA's Dairy Product Mandatory Reporting Program. Further, every two years, USDA must publish a report containing the information obtained under these new requirements.

The Dairy Pricing Opportunity Act of 2023, also known as Bill 118 s 1014, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to address issues related to the pricing of dairy products in the United States.

One key aspect of the Dairy Pricing Opportunity Act is the establishment of a new pricing system for dairy products. This system aims to ensure that dairy farmers receive fair prices for their products, while also providing consumers with affordable options. The bill includes provisions for setting minimum prices for dairy products, as well as mechanisms for adjusting these prices based on market conditions.

Additionally, the Dairy Pricing Opportunity Act includes measures to support dairy farmers who are struggling financially. This includes providing financial assistance to farmers who are facing economic hardship, as well as funding for programs aimed at improving the sustainability and efficiency of dairy operations. Overall, the Dairy Pricing Opportunity Act of 2023 seeks to address the challenges facing the dairy industry in the United States by implementing a new pricing system and providing support to farmers. This bill is currently under review in Congress, and its ultimate impact on the dairy industry will depend on the outcome of the legislative process.