A bill to replace current dairy product price support and milk income loss contract programs with a program to protect dairy producer income when the difference between milk prices and feed costs is less than a specified amount, to establish a dairy market stabilization program, and for other purposes.
Dairy Pricing Reform and Farmer Protection Act of 2011 - Directs the Secretary of Agriculture (USDA) to conduct hearings to assess the implications of transitioning federal milk marketing orders from end-product pricing to a competitive pay pricing system.
Directs the Secretary to: (1) establish a dairy producer margin protection program to protect dairy producer income through the provision of basic margin protection payments and, if purchased by a dairy producer, supplemental margin protection payments when actual dairy producer margins are less than the threshold levels for the payments; and (2) conduct the program from January 1, 2012, through December 31, 2017.
Makes all registering U.S. dairy producers eligible for: (1) the program, and (2) a two-tiered basic margin protection program.
Authorizes a producer to purchase supplemental margin protection at the time of program registration.
Directs the Secretary to: (1) establish a dairy market stabilization program for all U.S. dairy producers in order to balance the supply of milk with demand when the total percent production growth in milk products in a federal milk marketing order exceeds the combined percent growth in Class I, II, and III milk products; and (2) conduct the program from January 1, 2012, through December 31, 2017.
Eliminates the: (1) dairy product price support program, (2) the dairy forward pricing program, (3) the milk income loss contract program, and (4) the dairy export incentive program.
Introduced in Senate
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
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