(a) Calculation of average feed cost
The Secretary shall calculate the national average feed cost for each month using the following data:
(1) The price of corn for a month shall be the price received during that month by farmers in the United States for corn, as reported in the monthly Agricultural Prices report by the Secretary.
(2) The price of soybean meal for a month shall be the central Illinois price for soybean meal, as reported in the Market News–Monthly Soybean Meal Price Report by the Secretary.
(3) The price of alfalfa hay for a month shall be the price received during that month by farmers in the United States for alfalfa hay, as reported in the monthly Agricultural Prices report by the Secretary.
(b) Calculation of actual dairy production margin
(1) In general
For use in dairy margin coverage, the Secretary shall calculate the actual dairy production margin for each month by subtracting—
(A) the average feed cost for that month, determined in accordance with subsection (a); from
(B) the all-milk price for that month.
(2) Time for calculation
The calculation required by this subsection shall be made as soon as practicable using the full-month price of the applicable reference month.
Amendments
2018—Subsec. (b)(1). Pub. L. 115–334 substituted "dairy margin coverage" for "the margin protection program" in introductory provisions.
Pub. L. 115–123 substituted "month" for "consecutive 2-month period" wherever appearing.
Effective Date of 2018 Amendment
Amendment by Pub. L. 115–334 effective on Jan. 1, 2019, see section 1401(m) of Pub. L. 115–334, set out as a note under section 9051 of this title.
Amendment by Pub. L. 115–123 applicable beginning with the 2018 calendar year, see section 60101(b)(5) of Pub. L. 115–123, set out as a note under section 9051 of this title.
Collection of Alfalfa Hay Data
Pub. L. 115–334, title I, §1401(c), Dec. 20, 2018, 132 Stat. 4512, provided that: "Not later than 120 days after the date of the enactment of this Act [Dec. 20, 2018], the Secretary [of Agriculture], acting through the National Agricultural Statistics Service, shall revise monthly price survey reports to include prices for high-quality alfalfa hay in the top five milk producing States, as measured by volume of milk produced during the previous month."
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