Excerpt from the report Introduction: Prices received by dairy farmers have been substantially higher since 1949, than they otherwise would have been, as a result of price support purchases of dairy products by Commodity Credit Corporation (CCC) and other related program activities. The Agricultural Act of 1948 required the support of milk and butterfat prices at 90 percent of their parity prices during 1949. The price support has been carried out since January 1950 under the Agricultural Act of 1949. This Act requires the Secretary of Agriculture to support the prices to producers for milk and butterfat at such level between 75 and 90 percent of parity as will assure an adequate supply, through loans on, or purchases of, milk and dairy products.