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Alternative Ways of Balancing Production to Market Needs

Economic Division, National Milk Producers Federation, Washington, DC 20013

ABSTRACT

The means for matching milk production to the market include 1) reliance on price without government intervention, 2) government price supports not requiring limitations on farm marketings, or 3) government price supports or other means for enhancing farm income accompanied by limitations of marketing or payment.

Dairy marketing cooperatives in the U.S. long have supported limited government intervention in the milk market as necessary and in the public interest.

The current Federal programs that affect milk supplies, prices, and the market structure include price supports, import limitations on dairy products, and milk marketing orders. This paper deals directly with the U.S. program of price support for milk and how it may be modified or supplemented.

THE PRESENT PROGRAM

The present U.S. program supports the farm price of milk without limiting marketings. It assures farmers that the milk price will not fall below a predetermined amount. It provides an economic incentive for the price to stabilize higher by a standing government offer to purchase dairy products during periods of excessive milk production and making them available for reentry at higher prices.