Class I Differential

Business / Agriculture / Class I Differential: Under federal milk marketing orders, the minimum price a processor must pay for milk used for fluid consumption (Class I milk) is the basic formula price plus the Class I differential. The Class I differential varies by about $3.00 per hundredweight (cwt.) Between the Upper Midwest and Southeast Florida. The Class I differential accounts for the costs of transporting milk, the added costs of marketing milk going into fluid milk products, and the higher cost of producing Grade A milk required for fluid products.

Other Words for Class

Class Noun Synonyms: rank, grade, level, order, stratum, caste, lineage, birth, pedigree, stock, extraction, descent
Class Verb Synonyms: classify, group, arrange, assort, type, categorize, rank, grade, rate, order
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Multiple Basing Points

Business / Agriculture / Multiple Basing Points: A method of regional pricing in milk marketing orders that would allow more than one basing point, or 'surplus area,' to be used. Surplus areas are administratively defined as areas with low Class I u MORE

Fluid Differential

Business / Agriculture / Fluid Differential: In federal milk marketing orders, the Class I differential is the amount added to the basic formula price to determine a region’s minimum price for milk used for fluid (drinking) purposes. MORE

Agricultural Act Of 1970

Business / Agriculture / Agricultural Act Of 1970: P.L. 91-524 (November 30, 1970) initiated a significant change in commodity support policy. This 3-year farm bill replaced some of the more restrictive and mandatory features of acreage allotments, pl MORE

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