Modified Dairy Price Support Program

Modified Dairy Price Support Program - Amends the Omnibus Budget Reconciliation Act of 1982 to repeal the 50-cent milk producer assessments.

Decreases milk price supports from $13.10 per hundredweight to $12.10 per hundredweight for the period from April 1, 1983 through September 30, 1984. Permits increases of up to $1 if Commodity Credit Corporation (CCC) purchases fall below specified levels.

Bases milk supports on a parity formula (sliding scale of 61 to 83 percent of parity based on CCC purchase estimates) as of October 1, 1984.

Sets Class I milk prices (3.5 percent milk fat) at not less than $12.56, as of April 1, 1983, or enactment of this Act.