Consumer and Agricultural Protection Act of 1979

[AI summary unavailable — showing source text] Consumer and Agriculture Protection Act of 1979 - Establishes a National Board of Agricultural Governors, independent of the Department of Agriculture and consisting in part of agricultural producers, whose primary duty shall be the annual establishment of cost of production prices for cotton, feed grains, rice, soybeans, sugar and wheat. States that such prices shall take into account: (1) machinery ownership costs; (2) general farm overhead costs; (3) a value for the management services contributed by the producers; (4) labor costs; and (5) a value for the land utilized. Requires the Secretary of Agriculture to guarantee or make direct nonrecourse loans to producers of nonperishable specified commodities. Specifies formulae for the determination of loan levels and conditions for the calling of such loans. Directs the Board to establish mandatory release prices for each commodity, expressed in terms of a percentage of the cost of production price plus storage costs and interest charges. Requires the release for domestic or export sale of a portion of a commodity under loan, when such commodity's market price reaches the mandatory release price level. Requires the Secretary to esta…