Milk Prices Could Increase in the New Year
By: KFDX News
Updated: December 26, 2012
The price of milk could rise from its current average cost of 3.65 a gallon to as much as 7 dollars a gallon if Congress fails to pass a new farm bill.
Without last minute action, the government would have to follow legislation dating back to the Truman presidency which would force Washington to buy milk at inflated prices. As a result, that would create higher prices at the dairy case.
The higher prices would be based on what it cost to produce milk in 1949 when it was practically done by hand.
The Senate passed a farm bill back in July of this year, but House leaders have yet to bring its version to the floor.
