A bill to amend the Agricultural Adjustment Act of 1949 as amended to establish a support price of milk for the marketing year beginning April 1, 1973, and to provide for adjustments in the support price of milk during its marketing year.

Stipulates that effective for the period beginning April 1, 1973, and ending on March 31, 1974, the price of milk shall be supported at not less than 85 percent of the parity price therefor.

Requires the Secretary of Agriculture to adjust the support price of milk at three month intervals during its marketing year in order to accurately reflect any increase in the parity price of milk as of the date of each such adjustment when compared to its parity price at the beginning of such marketing year. (Adds 7 U.S.C. 1446(d); amends 7 U.S.C. 1421)