The Farm Bill has been passed by veto-proof majorities of both houses of Congress.
This web site is a good source of information about the Farm Bill, with both summary and detailed information. Concerning dairy farmers, the MILC Program has been extended and modified slightly. One significant modification is that the $16.94 amount used for payment calculations will now be adjusted for changes in feed costs. Details can be found in the Conference Report on p. 75.
The HORIZONS provisions that Farm Credit sought last year are not included in the Farm Bill.
UPDATE 6/04/08: The University of Wisconsin has a good summary of the dairy provisions in the Farm Bill (PDF, 17 pages).
