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TeachMeFinance.com - explain Dairy Price Support Program Dairy Price Support Program The term 'Dairy Price Support Program ' as it applies to the area of agriculture can be defined as ' The federal program that maintains a minimum farm price for milk used in the manufacture of dairy products. The CCC indirectly assures a minimum price for milk by purchasing any cheddar cheese, nonfat dry milk, and butter offered to it by dairy processors at stated prices. These purchase prices are set high enough to enable dairy processors to pay farmers at least the support price for the milk they use in manufacturing these products. The support price was $10.20 per hundred pounds of milk (cwt.) in 1997, it declined to $10.05/cwt in 1998, and $9.90/cwt in 1999. Under provisions of the FAIR Act of 1996, the dairy price support program is scheduled to terminate on December 31, 1999'. Previous 5 Terms: daily retardation of tides Dairy and Tobacco Adjustment Act of 1983 Dairy Diversion Program Dairy Export Incentive Program (DEIP) Dairy Market Loss Assistance Program (DMLA) Next 5 Terms: Dairy Promotion Program Dairy Termination Program DALR dalton dam 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.