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Deal reached for stopping spike in milk prices

By The Associated Press

This article was published December 30, 2012 at 2:02 p.m.

— The top leaders in both parties on the House and Senate Agriculture committees have agreed to a one-year extension of the 2008 farm bill that expired in October, a move that would head off a possible doubling of milk prices next month.

Senate Agriculture Committee Chairman Debbie Stabenow indicated that the House could vote on it as early as Sunday evening. The agreement to extend current farm law until next October was reached as negotiators hit a snag on averting a broader fiscal cliff combination of higher taxes and spending cuts Jan. 1.

Agriculture Secretary Tom Vilsack said Americans faced the prospect of paying $7 for a gallon if the current dairy program lapsed and the government returned to a 1948 formula for calculating milk price supports.

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Displaying 1 - 5 of 5 total comments

DontDrinkDatKoolAid says... December 30, 2012 at 5:15 p.m.

I say let it go and lower my taxes.

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cliffcarson says... December 30, 2012 at 8:33 p.m.

Since there is a Dairy in my family I need to report that the last time milk prices doubled my Sister-In-Law received about 10% more for her milk from the milk processors. That 10% didn't cover the increased cost of the feed. The milk prices were allowed to double because of the AMPI milk scandals.

Some of you might remember this. Wilbur D. Mills and Senator Pryor ( the elder) were recipients of the bribes. The two people who delivered the bribes were convicted of bribery. David Pryor who was running for Governor at the time said he didn't realized he was being bribed and he promised to return the money.

I believe he got 70% of the vote for Governor.

If milk doubles, hopefully my Sister-In-Law will get more than 10% of what she gets from the processors. I have always wondered how the justification for the increased cost was lied into reality.

The trucks could still carry the same load of milk for the same transportation costs, the processors could still process a gallon of milk for the same cost plus the extra 10% they gave the Dairies, the stores could still display the milk for the same price per gallon.

The Dairies saw their price of feed go up greater than 10%.

The politicians made out like the bandits they were.

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mkm157 says... December 30, 2012 at 10:08 p.m.

Oh they can agree on this little bitty thing but when it comes to the BIG decisions the Repubs and Dems cant seem to get off their worthless a--es and get something done about the Fiscal Cliff! They are ALL worthless. The two party system and extremists of both parties should be ousted.

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DontDrinkDatKoolAid says... December 31, 2012 at 12:25 p.m.

Let the free market alone.

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HotSpringsLawyer says... December 31, 2012 at 12:47 p.m.

Had nothing to do with free market. Was old price-control law about to be triggered.

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