Contact: Dan Smith, Executive Director, at (802) 229-1941
MONTPELIER,
VT -- The Northeast Dairy Compact Commission has released a total of
$3,948,421.71 to the approximately 4000 dairy farmers in the New England
milkshed, for October 2000 milk shipments.
Farmers will receive $0.74 per hundred pounds of milk shipped into the
New England market for this payment.
Tracking operation of the federal Milk Market
Order Program, the Compact Commission regulates the price paid by milk
processors for all fluid or beverage milk marketed in the six-state New England
marketplace. The charged amount to
processors under the Compact price regulation is calculated as the difference
between $16.94 per hundred pounds and the monthly price established for Class I
or fluid milk under the federal program.
For October, 2000, the Compact price regulation resulted in an
"Over-order" charge of $1.80 per hundred pounds. By contrast, the Over-order charge for
September was $1.85, indicating that the Class I price under the federal
program dropped five cents from September to October.
The October payment also includes the fourth
of twelve installment payments for the Supply Management Assessment Refund
Program, bringing the total held in this reserve to about $1,600,000.00. As occurs each month, amounts were also
placed in reserve for reimbursement to the Women, Infants and Children
Supplemental Nutrition Programs and the School Food Programs.
Since January, 2000 the Compact Commission
has released $52,134,108.00 to producers who shipped milk as part of the New
England milkshed. The average Compact
Over-order charge has been $2.20 per hundredweight on average, and the
Over-order Producer Payment has been $0.94 per hundredweight on average.
To cover this reimbursement provision of the
price regulation, the Commission had withheld one percent of the total receipts
from milk handlers under the price regulation for the period covered by school
year 1999-2000 in the total amount of $795,653.25. Because less than one percent was paid out as reimbursement to
school districts, the balance will be added to the October pool for
distribution to producers.
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