Now, as we’re all aware, the Administration has taken steps to ease both trade and travel restrictions. This is a good step but there is still more work that we can do to open this market to American agricultural products. I would like to see the embargo lifted but am doubtful that it’s politically possible to do so now.

Today’s announcement is welcome news. The combination of declining milk prices and record high cheese stocks has left many dairy farmers struggling. Through this cheese purchase, both farmers and those utilizing USDA nutrition programs, will get some relief. Additionally, dairy farmers will have more time to enroll in MPP and protect themselves against potential future volatility.

In a letter to USDA Secretary Vilsack the lawmakers said extending the sign up period would encourage additional participation. “We believe an extension to December 31 should be made permanent to give producers additional time to make informed decisions and to improve program participation,” the lawmakers wrote.

I believe this is a good compromise. It’s another example of what the Agriculture Committee has consistently done so well. No one gets everything they want but, at the end of the day, I believe this bill will provide the transparency consumers crave while, at the same time, allow continued innovation in food production.

With Regulation Automated Trading, the CFTC has proposed some rules to try to prevent future market disruptions caused or made worse by automated and algorithmic trading. This rulemaking is still open and the CFTC continues to work to get it right.