Dairy Margin Insurance Location Calculation Act of 2016 or the Dairy MILC Act of 2016
This bill amends the Agricultural Act of 2014 to require the Department of Agriculture (USDA) to calculate the average feed cost for the Dairy Margin Protection Program using data from each state rather than the national average. USDA must also take into consideration costs for energy, transportation, and labor.
(The Dairy Margin Protection Program makes payments to participating farmers when actual dairy production margins fall below a farmer-selected insured margin. Average feed costs are part of the formula used to calculate actual dairy production margins.)