Effects of U.S. Dairy Policies on Markets for Milk and Dairy Products

by Michael Price

This report examines the economic effects of the principal programs authorized under the Farm Security and Rural Investment Act of 2002 that influence the U.S. dairy sector. The analytical results presented in this study were used as input to a broader study mandated by Congress, which required an evaluation of the economic impacts of Federal milk marketing orders, direct payments to producers, price supports, and export programs.

Keywords: dairy, agricultural policy, Milk Price Support Program, Dairy Export Incentive Program, Federal Milk Marketing Order system, Milk Income Loss Contract Program, Food and Agricultural Policy Simulator (Fapsim)

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