The National Milk Producers Federation is calling for an emergency hearing by USDA for Class I price mover reform for fluid milk.
Chief economist Peter Vitaliano tells Brownfield he estimates dairy farmers have lost more than $725 million this past year after the coronavirus pandemic caused market disruptions and distorted the adjusted Class I pricing formula as implemented in the 2018 Farm Bill.
“National Milk decided to propose a modification for that mover that would periodically readjust that 74-cent factor to more accurately reflect recent differences,” he says.
