USDA Hearing on Class III and IV Price Formulas Set for February 26
The U.S. Department of Agriculture (USDA) announced last week that it will hold a national public hearing beginning on February 26 to consider proposals to amend the price formulas that determine Class III and Class IV prices in all Federal Milk Marketing Orders. IDFA's Chief Economist Bob Yonkers will represent IDFA at the hearing, which will be held in Strongsville, Ohio.IDFA is preparing testimony for the hearing and will be contacting members who have indicated that they would like to contribute. For more information, contact John Rutherford, IDFA senior research analyst, at jrutherford@idfa.org or 202-220-3514.
IDFA submitted two of the proposals under consideration. To read the proposals, click here. A total of 18 proposals will be reviewed during the hearing.
Last June, USDA issued a request for proposals to consider changes to the Class III and Class IV price formulas. On December 5, USDA held a pre-hearing informational meeting to seek clarification regarding the submitted proposals; modifications to proposals were due to USDA by December 20. To read the previous News Update story about the December 5 meeting, click here.
Posted February 12, 2007