Does the MILC program Affect Milk Supply Response in Individual States of the United States?
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The 2002 Farm Bill instituted a first-ever countercyclical milk price support program known as Milk Income Loss Contract (MILC) program. Analyzing variables (cattle numbers, milk price, etc.) using regression analysis, this study found that MILC was statistically significant, but often had negative impacts, on milk supply response in individual states.