Fiscal Cliff

Dairy Cliff Averted

Farm bill extension kicks condensed milk can down the road

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According to the AP, 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 could head off a possible doubling of milk prices next month.

In addition to the one-year extension that has the backing of the committees, the House GOP is also considering two other extension bills—a one-month extension and an even smaller bill that would simply extend dairy policy that expires Jan. 1.