4 months, 1 week ago by Denise Donley
The previous five-year Farm Bill expired last year, but Congress issued a one-year extension
Analysts are warning that dairy prices could skyrocket if federal lawmakers fail to pass a new Farm Bill before the end of the year.
The Congressional holiday recess begins next week, and passage of a new farm bill is far from certain.
The previous five-year Farm Bill expired last year, but Congress issued a one-year extension that expired in September.
If an agreement is not reached, the most dramatic and immediate impact will be on milk prices. That’s because a 1949 farm law would force the government to buy milk at hugely inflated prices. However, other foods and services could also be affected.
The sticking points in the latest negotiations are over cuts to food stamps and the structure of farm subsidies.