Agricultural Act of 1954
Encyclopedia
The Agricultural Act of 1954 (P.L. 83-690) is a United States federal law that, among other provisions, authorized a Commodity Credit Corporation
reserve for foreign and domestic relief.
The Act established a flexible price support for basic commodities (excluding tobacco) at 82.5-90% of parity and authorized a Commodity Credit Corporation (CCC) reserve for foreign and domestic relief. Title VII was designated the National Wool Act of 1954
and provided for a new price support program for wool and mohair to encourage increased domestic production. Price support for wool and mohair continued through marketing year
1995, at which time it was phased down and terminated under the explicit mandate of P.L. 103-130 (November 1, 1993). Mandatory support for wool and mohair was restored by the 2002 farm bill (P.L. 101-171, Sec. 1201-1205).
This Act is separate from, and should not be confused with, the Agricultural Trade Development and Assistance Act of 1954
.
Commodity Credit Corporation
The Commodity Credit Corporation is a wholly owned government corporation created in 1933 to "stabilize, support, and protect farm income and prices"...
reserve for foreign and domestic relief.
The Act established a flexible price support for basic commodities (excluding tobacco) at 82.5-90% of parity and authorized a Commodity Credit Corporation (CCC) reserve for foreign and domestic relief. Title VII was designated the National Wool Act of 1954
National Wool Act of 1954
The National Wool Act of 1954 provided for a new and permanent price support program for wool and mohair to encourage increased domestic production through incentive payments. Wool and mohair commodity programs were in effect through marketing year 1995, at which time it was terminated under the...
and provided for a new price support program for wool and mohair to encourage increased domestic production. Price support for wool and mohair continued through marketing year
Marketing year
Marketing year refers to the 12-month period, generally from the beginning of a new harvest, over which a crop is marketed. For example, for wool, mohair, and Hawaiian sugarcane, the marketing year is January 1-December 31; for honey, it is April 1-March 31; for wheat, barley, and oats, it is June...
1995, at which time it was phased down and terminated under the explicit mandate of P.L. 103-130 (November 1, 1993). Mandatory support for wool and mohair was restored by the 2002 farm bill (P.L. 101-171, Sec. 1201-1205).
This Act is separate from, and should not be confused with, the Agricultural Trade Development and Assistance Act of 1954
Agricultural Trade Development and Assistance Act of 1954
The Agricultural Trade Development and Assistance Act of 1954 is a United States federal law that established Food for Peace, the primary U.S. overseas food assistance program. The Act was signed into law on July 10, 1954 by President Dwight D...
.