Emergency Dairy, Livestock, and Poultry Act

[AI summary unavailable — showing source text] Emergency Dairy, Livestock, and Poultry Act - Title I: Definitions - Defines the term "farm family unit" for purposes of entitlement to benefits under this Act. Defines the term "gross annual sales" as meaning the combined gross cash receipts first received for dairy, livestock, and poultry produced by a farm family unit as limited and defined in this Act, in any calendar year or for such other approved twelve-month accounting period. Defines the terms "cost-of-production payments," "carryback option," and "carryforward option". Title II: Cost-of-Production Payments - Provides that any farm family unit that markets milk, milk products, red meat, and poultry for human consumption shall receive cost-of-production payments directly from the Government not less often than semiannually. Sets forth the formula for determining such payment. Provides that any farm family unit may exercise the option of carrying forward sales of milk, milk products, red meat, and poultry for human consumption against the limits of gross annual sales for any next succeeding thirty-six-month period. Sets forth limitations to carry forward such sales. Title III: Adjustment Provisions Authorized - Directs the S…