Fiscal Cliff

Dairy Cliff Averted

Farm bill extension kicks condensed milk can down the road


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.