This Act may be cited as the Fair Milk Pricing for Farmers Act.

Section 273 of the Agricultural Marketing Act of 1946 (7 U.S.C. 1637bU.S. Code — Title 7, Section 1637bView official source on GovInfo) is amended— (1) in subsection (b)— (A) in paragraph (1)— (i) in subparagraph (A)(ii), by striking and at the end; (ii) in subparagraph (B), by striking the period at the end and inserting; and; and (iii) by adding at the end the following: (C) for each manufacturer required to report under subparagraph (A) for any product, require that manufacturer to report production cost and product yield information, as determined by the Secretary, for all products processed in the same facility or facilities.; and (B) in paragraph (2)(A), by inserting products and after those; and (2) in subsection (d)— (A) in the subsection heading, by striking Electronic Reporting and inserting Reporting; (B) in paragraph (1)— (i) in the paragraph heading, by striking Electronic reporting and inserting Reporting; and (ii) by striking this section and inserting subparagraphs (A) and (B) of subsection (b)(1); (C) in paragraph (2), by striking this section and inserting subparagraphs (A) and (B) of subsection (b)(1); and (D) by adding at the end the following: (3) Dairy products processing costs Not later than 3 years after the date of enactment of this paragraph, and every 2 years thereafter, the Secretary shall publish a report containing the information obtained under subsection (b)(1)(C)..