Costs of production

  1. Law
  2. USC 7
  3. Agriculture
  4. PRICE SUPPORT OF AGRICULTURAL COMMODITIES
  5. GENERAL PROVISIONS
  6. Costs of production

Checkout our iOS App for a better way to browser and research.

§1421b. Costs of production

Congress finds that, to improve the accuracy of commodity program benefit forecasts, the Secretary of Agriculture should designate a single organization to manage its commodity program forecasting and establish a quality control program to-

(1) systematically identify the source of forecasting errors;

(2) maintain records of data used for supply and demand forecasts;

(3) document its forecasting methods; and

(4) correct weaknesses in its various forecasting components.

( Pub. L. 101–624, title XXV, §2512, Nov. 28, 1990, 104 Stat. 4073 ; Pub. L. 104–66, title I, §1011(b), Dec. 21, 1995, 109 Stat. 709 .)

Codification

Section was enacted as part of the Food, Agriculture, Conservation, and Trade Act of 1990, and not as part of the Agricultural Act of 1949 which is classified principally to this chapter. For complete classification of the 1949 Act to the Code, see Short Title note set out under section 1421 of this title and Tables.

Amendments

1995-Pub. L. 104–66 struck out subsec. (a) designation and heading "Improving accuracy of commodity program budget forecasts" before "Congress finds that", and struck out subsec. (b) "Return on assets" which read as follows: "The Secretary of Agriculture shall annually publish a report analyzing the return on assets resulting from the production of upland cotton, rice, wheat, corn, oats, barley, grain sorghum, soybeans, peanuts, sugar from sugar beets, and raw sugar from sugar cane. In conducting this analysis, the Secretary shall consider returns from agricultural price support programs, the effects of agricultural price support programs on cost of production, the factors currently used in Department of Agriculture cost of production data, current value of land, and any other information that he considers necessary to reflect accurately return on the production of such crops."


Download our app to see the most-to-date content.