A dairy pricing policy originally proposed at the beginning of the COVID-19 pandemic could have resulted in dairy farmers getting 10% more for their products if the policy had been passed, according to a Penn State study.
production in the Chesapeake Bay watershed, found that this price increase could have led to an approximately 13% expansion of the local dairy industry.
While the request was rejected, the researchers said a minimum pricing policy continues to be appealing to farmers. They said that the COVID-19 pandemic, when combined with the effects of a milk pricing formula introduced in a farm bill that took effect in April 2019, led to an estimated $725 million loss for milk producers.could also mean higher costs for processors of milk, cheese, butter and other dairy products, and most of those costs are passed on to consumers.
Abler explained that they wanted to examine how such a policy would affect not just milk prices, but water quality, as well. If the policy resulted in increased—and therefore, increased livestock production—the researchers reasoned that water quality could be affected by an increase in livestock manure entering waterways.
The model included six major livestock sectors—dairy, beef cattle, swine, broiler, egg and turkey—and incorporated data from multiple sources in addition to USDA's Agricultural Census, including information about feed composition, price and supply elasticities. The researchers first ran the model to get baseline results and then again after imposing the minimum pricing policy, reflected as an increase to milk price.
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