Dairy Production Stabilization Act of 1991

Dairy Production Stabilization Act of 1991 - Amends the Agricultural Act of 1949 to limit the milk price support program to the 48 contiguous States.

Establishes manufacturing allowances for milk manufactured into: (1) butter and nonfat dry milk; and (2) cheese.

Reduces support prices, including imposing a milk diversion program, if estimated Commodity Credit Corporation (CCC) milk purchases exceed specified levels.

Establishes: (1) a National Dairy Inventory Management Board; and (2) a milk inventory management program to handle excess inventory if estimated annual CCC milk prices exceed a specified level.

Amends the Packers and Stockyards Act, 1921 to establish milk producer and handler trusts. Authorizes appropriations.

Amends the Food Security Act of 1985 to direct the CCC to carry out a diary heifer export program.

Modifies the dairy termination program to permit a producer whose facilities have been rendered unusuable by a natural disaster to transfer such production facilities to an idled farm under specified conditions.

Amends the Agricultural Act of 1949 to require: (1) annual CCC milk purchase estimates to include estimates of dairy cattle slaughtering; and (2) additional Department of Agriculture beef purchases in any year in which dairy cattle slaughtering exceeds specified levels.

Amends the Agricultural Adjustment Act, as reenacted with amendments by the Agricultural Marketing Agreement Act of 1937, to establish marketing order milk solid percentages for whole, lowfat, and skim milk.