Dairy Investment Act
US - Dairy farmers in New York State will see some relief from the devastating milk prices in 2006. The Dairy Investment Act will allow farmers to offset any loss.
12 April 2007
1 minute read
Governor Eliot Spitzer agreed to dole out $30 million to struggling dairy farmers. The Senate Majority fought for twice that, but they were denied. All the same, the milk producers are grateful; not only will it help their farms, it will in turn help the local economy.
"This is not just an investment in dairy farmers, but it's an investment in the local economy because dairy farmers use this money and invest it in local businesses and support services," New York dairy farmer Doug Blumer said.
Each dairy farmer will receive 33 cents per hundred weight of milk that they output on their dairy farm. If they have more cows, they receive more cash. Farmers will use the cash for repairs and buying new equipment, while others will use it to pay off debt.
Dairy Farmers in New York State will see some relief from the devastating milk prices in 2006. The Dairy Investment Act will allow farmers to offset any loss. Our Joleene Des Rosiers has more.
"We have to borrow money to continue operating when there's low milk prices because we're not making enough to cover the cost of production," Blumer said.
