Economic Recovery Act

[AI summary unavailable — showing source text] Economic Recovery Act - Title I: Production and Sale of Agricultural Commodities - Directs the National Board of Agricultural Governors (created by Title II of this Act) to establish, on a monthly basis for each agricultural commodity, a parity price and a comprehensive cost of production price, taking into account for the latter: (1) machinery ownership costs; (2) farm overhead costs; (3) a value for the management services contributed by the producer; (4) labor costs; and (5) a value for the land utilized. Directs the Board to establish for each commodity a national production goal based on estimated domestic and export requirements, and levels of production consistent with established agricultural conservation or soil management programs. Directs the Board to allocate acreage allotments or marketing quotas based upon the production history of each farm during three out of the five preceding calendar years. Limits such allocations to individual farmers and farmer-owned or controlled cooperatives and corporations. Directs the Secretary of Agriculture to make loans available to producers of Board-selected commodities. Requires the Board to establish a program to acquire reserve sto…