Dairy Farm Protection Act

Dairy Farm Protection Act - Amends the Agricultural Act of 1949 with respect to agricultural price supports for milk during the period 1989 through 1995. States that the price support rate during this period shall be the rate in effect immediately prior to this Act's enactment. Directs the Secretary of Agriculture to increase the rate by 50 cents if the estimated level of purchases of milk and milk products does not exceed 2,500,000,000 pounds.

Directs the Secretary to establish and carry out a regional dairy production stabilization program during this same period under which the Secretary: (1) designates between six and ten dairy production regions in the United States; and (2) establishes for each region an authorized purchase level for milk products, in accordance with a formula described in this Act. Requires any region that exceeds its authorized purchase level in a given year to pay an assessment. Sets forth administrative details with regard to this assessment.

Directs the Secretary to establish regional dairy production boards to assist in carrying out the regional dairy production stabilization program. Describes responsibilities and membership criteria with respect to these boards.

Amends the Agricultural Act of 1949 to require each person who sells milk or milk products to the Commodity Credit Corporation and each person required to collect assessments under this Act to keep records and make reports as required by the Secretary.

Establishes marketing penalties for persons who fail either to remit assessments required under this Act or to carry out duties under any regional dairy program established in this Act.