“Fiscal Cliff” Deal Averts U.S. Milk Price Spike
By Amanda Brodhagen, Farms.com
The possibility of doubling U.S. milk prices has been prevented, which was part of the compromise that Congress reached on legislation late Monday, averting the “fiscal cliff.”
Congressional bargainers agreed to extend some sections of the expired 2008 Farm Bill through until September of 2013. Some of the items that have been extended include provisions that prevent milk prices from rising and other farm related provisions revolving around energy and disaster aid for farmers.
If the dairy provisions had not been extended, it would have meant that American’s could have been paying upwards of $7 for a gallon of milk.