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TeachMeFinance.com - explain Agricultural Act of 1954 Agricultural Act of 1954 The term 'Agricultural Act of 1954 ' as it applies to the area of agriculture can be defined as ' P.L. 83-690 (August 28, 1954) established a flexible price support for basic commodities (excluding tobacco) at 82.5-90% of parity and authorized a Commodity Credit Corporation reserve for foreign and domestic relief. Title VII was designated the National Wool Act of 1954 and provided for a new price support program for wool and mohair to encourage increased domestic production. Price support for wool and mohair continued through marketing year 1995, at which time it was phased down and terminated under the explicit mandate of P.L. 103-130 (November 1, 1993)'. Previous 5 Terms: Agreement on Agriculture Agreement State agrestic Agribusiness Agricultural Act of 1949 Next 5 Terms: Agricultural Act of 1956 Agricultural Act of 1970 Agricultural Adjustment Act (AAA) of 1933 Agricultural Adjustment Act Amendment of 1935 Agricultural Adjustment Act of 1938 About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.