[Congressional Record Volume 143, Number 19 (Thursday, February 13, 1997)]
[Senate]
[Page S1407]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             SENATE RESOLUTION 55--RELATIVE TO MILK PRICES

  Mr. SPECTER (for himself, Mr. Santorum, Mr. Feingold, Mr. Kohl, Mr. 
Jeffords, Mr. Leahy, Mr. Wellstone, Ms. Snowe, Ms. Collins, and Mr. 
Grams) submitted the following resolution; which was considered and 
agreed to:

                               S. Res. 55

       Whereas, during the last few months farm milk prices have 
     experienced substantial volatility, dropping precipitously 
     from $15.37 per hundredweight in September, 1996 to $11.34 
     per hundredweight in December, 1996;
       Whereas, the price of cheese at the National Cheese 
     Exchange in Green Bay, Wisconsin influences milk prices paid 
     to farmers because of its use in the Department of 
     Agriculture's Basic Formula Price under Federal Milk 
     Marketing Orders;
       Whereas, less than one percent of the cheese produced in 
     the United States is sold on the National Cheese Exchange and 
     the Exchange acts as a reference price for as much as 95 
     percent of the commercial bulk cheese sales in the nation: 
     Now, therefore, be it
       Resolved, That it is the Sense of the Senate of the United 
     States that the Secretary of Agriculture should consider 
     acting immediately pursuant to his legal authority to modify 
     the Basic Formula Price for dairy by replacing the National 
     Cheese Exchange as a factor to be considered in setting the 
     Basic Formula Price.

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