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Milk Regulatory Equity Act of 2003 - Subjects specified Class I milk handlers (including producer-handlers) to Federal milk marketing order minimum and uniform price requirements applicable to the county in which the plant of the handler is located, at Federal order class prices, if the handler has packaged fluid milk product route dispositions, or sales of packaged fluid milk products to other plants, in a marketing area located in a State that requires handlers to pay minimum prices for raw milk purchases. Exempts from such provision: (1) a handler operating an exempt plant; or (2) a producer-handler for any month during which packaged fluid milk route dispositions and sales to other plants are less than six million pounds of milk.