Originally Posted by stonedstooge
So what happened with the "If we don't pass the Farm Bill, milk prices will skyrocket!" They pass the Farm Bill and milk prices skyrocket
I have no idea what milk prices have done since the passage of the bill, but I posted some stuff earlier about why it is a bad thing if the 1949 bill went back into effect.
Basically the 1949 bill required that the government ensure "parity", and if the prices got out of line the government would have to go in and buy up the supply. Apparently, the inflation numbers that were built in put it at $9.00. And it wasn't just mild. I believe I heard Flinchbaugh say that the prices for corn were like $14.00 and wheat was like $19.00.
According to the letter of the law, Vilsack (sp?) should have stepped in and started buying as soon as the old bill expired. He drug his feet and essentially shirked his responsibility and violated the law to give the broken ass congress more time to pass their bill.
Originally Posted by Buehler445
Apparently, the government has to provide price supports for the Dairy industry and they would be required by the 1949 law to go in and purchase it.
That makes a little more sense. Hopefully this is formatted right.
As for the new farm bill, the only thing I know of is there is margin insurance for dairies. I don't know what all that entails.