7 U.S.C. § 627 — Dairy forward pricing pilot program

(a) Program. No later than 90 days after November 29, 1999, the Secretary of Agriculture had to establish a temporary pilot program allowing milk producers and cooperatives to voluntarily make forward-price contracts with milk handlers. (b) Minimum prices. Payments and prices under those contracts are treated as satisfying the regulated minimum-price requirements in section 608c(5)(B) and (F), and the total-payment requirement in section 608c(5)(C). (c) Milk covered. (1) The program covers only federally regulated milk that (A) is not Class I milk or otherwise intended for fluid use and (B) is in, or directly burdens, obstructs, or affects, interstate or foreign commerce in federally regulated milk. (2) To avoid separating or individually tracking milk, a handler may allocate receipts from producers, cooperatives, and other sources not under forward contracts to meet its Class I milk obligations. (d) End. The Secretary’s authority ended December 31, 2004, and no program contract could extend beyond that date. (e) Study and report. (1) The Secretary had to study forward contracts between producers or cooperatives and handlers and their effect on prices paid to United States producers. The Secretary could use section 608d authorities, subject to that section’s confidentiality rule. (2) By April 30, 2002, the Secretary had to report the study results to the named Senate and House agriculture committees.