Consumer and Agricultural Protection Act

Consumer and Agricultural Protection Act - Establishes a National Board of Agricultural Governors, independent of the Department of Agriculture and consisting in part of agricultural producers, whose primary duty shall be the annual establishment of cost of production prices for cotton, dairy products, dry beans, feed grains, poultry, rice, soybeans, sugar, livestock and wheat. States that such prices shall take into account: (1) machinery ownership costs; (2) general farm overhead costs; (3) a value for the management services contributed by the producer; (4) labor costs; and (5) a value for the land utilized.

Sets 1978 cost of production prices as follows: (1) dry beans, $22.00 per hundredweight; (2) wheat, $4.75 per bushel; (3) sugar, $.25 (raw) per pound; (4) corn, $3.15 per bushel; (5) soybeans, $6.60 per bushel; (6) barley, $3.00 per bushel; (7) grain sorghum, $5.39 per hundredweight; (8) oats, $1,65 per bushel; (9) cotton, $.70 per pound; (10) cattle, $.55 per pound; (11) calves, $.65 per pound; (12) milk, $12.00 per hundredweight; (13) hogs, $.50 per pound; (14) rice, $10.00 per hundredweight; and (15) poultry, $.40 per pound.

Requires the Secretary of Agriculture to guarantee or make direct nonrecourse loans to producers of specified nonperishable commodities. Specifies formula for the determination of loan levels and conditions for the calling of such loans.

Directs the Board to establish mandatory release prices for each commodity, expressed in terms of a percentage of the cost of production price plus storage costs and interest charges. Requires the release for domestic or export sale of a portion of a commodity under loan when such commodity's market price reaches the mandatory release price level.

Requires the Secretary to establish and maintain a National Commodity Reserve of cotton, feed grains, rice, soybeans, sugar, and wheat, for provision during national emergencies and for the protection of producers from depressed prices.

Requires the Secretary, upon receiving written production estimates from producers prior to the production year, to determine and announce production adjustments if he finds that, in the absence of such adjustments, domestic stocks, including Reserve quantities, will exceed domestic and foreign demand and the replenishment needs of the reserve. Directs the Board to apportion production cutbacks and mandatory set-asides among producers equally. Specifies civil penalties for the use of land removed from production for harvesting any crop or for grazing. Permits production adjustments with respect to livestock, dairy products, poultry, and perishable commodities (designated by the Board) only upon a vote by a majority of the producers of such a commodity.

Provides for coverage under this Act of any commodity not specified, by means of a petition and majority-vote referendum among the producers of such commodity. Permits the termination of such commodity, whether specified or unspecified by the same means.

Bars the importation of a specified commodity at less than the domestic cost of production price, adjusted for transportation and handling costs. Authorizes the board to impose price maintenance custom duties on imported agricultural commodities.

Prohibits the purchase of domestic specified commodities for foreign assistance programs at less than cost of production prices.