It looks like MILC will be extended for another two years after expiring recently. At least legislation authorizing it has passed in the House and now in the Senate. However, it has to go back to the House since the Senate version is different. Then of course it has to get signed. Passage this week would be a nice Christmas present for a lot of dairy farmers around the country.
We’ll try to get more information on the terms of the legislation that’s in the final version which it is hoped will happen still this week. One thing that seems to be decided is that there will be a reduction in the subsidy levels of the program.