With the Farm Bill tied up in legislation, milk prices could double, according to a report on dailyfinance.com and aol.com.
That bottle of milk you brought this week, could be double the price if the current farm bill expires with action being taken by the legislature, according to a report on dailyfinance.com and aol.com. The Farm Bill, which was started in 1933, is updated every five years or more. Right now, it is tied up in the legislature and being affected by the Fiscal Cliff negotiations. The New York Times reported if the present Farm Bill expires, the price equation go to its 1949 standard and government would pay more for milk. Agriculture Secretary Tom Vilsack said farmers will be in a hurry to sell to the governament, creating a shortage in the stores. It is estimated the price of milk could go as high as $8 from a current average of $3.69.