S. 581 — Fair Milk Pricing for Farmers Act

This section expands the mandatory dairy product information reporting program by requiring each manufacturer that reports price, quantity, and moisture content on any dairy product to also report production cost and product yield information—as determined by USDA—for all products processed in the same facility or facilities. (As background, the program requires manufacturers to report sales and storage data, subject to conditions tied to federal milk marketing order pricing for Class III and Class IV milk products, to provide timely market information that facilitates informed marketing decisions and promotes competition in dairy manufacturing; USDA may exempt manufacturers processing and marketing less than 1 million pounds annually.) It further (1) revises a reporting condition to cover products and package sizes used for such milk pricing (previously, package sizes only); (2) limits the electronic reporting requirement to price, quantity, and storage reports; and (3) directs USDA to publish a report on the new cost and yield information not later than three years after enactment and every two years thereafter.