marketing-order · Agricultural Marketing Service · Rule · Published 2014-03-21 · Effective 2014-03-24 · 79 FR 15633
Document
Document number
2014-06189
Federal Register citation
79 FR 15633
CFR reference
7 CFR 1145
Type
Rule
Action
Final rule.
Category
marketing-order
Sub-agency
Agricultural Marketing Service
Publication date
2014-03-21
Effective date
2014-03-24
USDA docket
Doc. No. AMS-DA-14-0018
Abstract
This final rule extends the Dairy Forward Pricing Program in accordance with the Agricultural Act of 2014 (2014 Farm Bill). The Dairy Forward Pricing Program was first authorized in section 1502 of the Food, Conservation and Energy Act of 2008. The program allows handlers regulated under the Federal milk marketing order program to pay producers and cooperative associations in accordance with the terms of a forward contract and not have to pay the minimum Federal order uniform price for milk. Establishing new contracts under the Dairy Forward Pricing Program has been prohibited since the expiration of the program on September 30, 2013. The 2014 Farm Bill (H.R. 2642) was signed into law on February 7, 2014, and extends the program to allow new contracts to be entered into until September 30, 2018. Any forward contract entered into up and until the September 30, 2018, deadline is subject to a September 30, 2021, expiration date to meet the terms of the contract.