§ 1145.1 - Definitions.

§ 1145.1 Definitions.

Cross Reference

Link to an amendment published at 89 FR 12950, Feb. 21, 2024.

(a) Program means the dairy forward pricing program as established by Section 1502 of Public Law No. 110–246.

(b) Eligible milk means the quantity of milk equal to the contracting handler's Class II, III and IV utilization of producer milk, in product pounds, during the month, combining all plants of a single handler regulated under the same Federal milk marketing order.

(c) Forward contract means an agreement covering the terms and conditions for the sale of Class II, III or IV milk from a producer defined in 7 CFR 1001.12, 1005.12, 1006.12, 1007.12, 1030.12, 1032.12, 1033.12, 1051.12, 1124.12, 1126.12, 1131.12 or a cooperative association of producers defined in 7 CFR 1000.18, and a handler defined in 7 CFR 1000.9.

(d) Contract milk means the producer milk regulated under a Federal milk marketing order covered by a forward contract.

(e) Disclosure statement means the following statement which must be signed by each producer or cooperative representative entering into a forward contract with a handler before the Federal milk marketing order administrator will recognize the contract as satisfying the provisions of this program.

Attachment to § 1145.1, paragraph (e):

Disclosure Statement

I am voluntarily entering into a forward contract with [insert handler's name]. I have been given a copy of the contract. By signing this form, I understand that I am forfeiting my right to receive the Federal milk marketing order's minimum prices for that portion of the milk which is under contract for the duration of the contract. I also understand that this contract milk will be priced in accordance with the terms and conditions of the contract.

Printed Name:

Signature:

Date:

Address:

Producer Number:

(f) Other definitions. The definition of any term in parts 1000–1131 of this chapter apply to, and are hereby made a part of this part, as appropriate.

[73 FR 64871, Oct. 31, 2008, as amended at 89 FR 12950, Feb. 21, 2024]