Millions in federal funds will be directed to New York dairy farmers so they can continue to benefit from a milk price support program despite rising feed costs, if the federal Farm bill becomes law in its current form.
Farm Bill conferees worked out final details of the legislation this week, and it's expected to go in front of Congress next week for a vote. President Bush, however, has stated he plans to veto it because of the high level of spending on subsidies.
The bill includes a renewal of the "feed cost adjuster amendment," which manages how much assistance farmers get under the Milk Income Loss Contract program.
MILC provides assistance when milk prices are low, but the feed amendment adjusts that when milk prices are driven up by expensive feed.
New York dairy farmers received $230 million in assistance during the five-year life of the previous federal farm bill.
New York State's 6,200 dairy farms generate $2.4 billion.
The bill includes a renewal of the "feed cost adjuster amendment," which manages how much assistance farmers get under the Milk Income Loss Contract program.
MILC provides assistance when milk prices are low, but the feed amendment adjusts that when milk prices are driven up by expensive feed.
New York dairy farmers received $230 million in assistance during the five-year life of the previous federal farm bill.
New York State's 6,200 dairy farms generate $2.4 billion.
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