U.S. milk prices could double
WASHINGTON, DC – You know what happens when you combine a lame duck Congress with the farm bill?
Well, it can be ugly, about as ugly as going over the fiscal cliff.
The 2008 farm bill expired in September. The Senate passed the replacement 2012 bill, but the House hasn’t even looked at it.
And that’s why New York senator Chuck Schumer is warning that without a new bill, the price of milk could double in a few weeks, to more than $6 a gallon.
And not just milk, but all dairy products. That’s because Uncle Sam compensates dairy farmers when milk prices fluctuate and the cost of feed goes up.
This comes at time when fewer Americans are drinking milk, about thirty percent less than we did back in 1975. So, with demand down, and the price high, it’s gonna be tough on everyone. But we can always count on Old Bessie.