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Dairy Prices to Go Up
Higher prices are expected on milk, cheese and butter as Congress continues to struggle with a new Farm Bill.
The latest Farm Bill expired at midnight on Monday.
Part of the bill gives farmers a cash buffer that helps equalize their costs. They said milk costs almost as much to produce as what farmers sell it for.
Farm Bureau officials told CNN that come January 1, consumers will see the higher costs as farmers are forced to pass on the higher cost of paying to feed and transport their livestock.
The increase could mean a doubling of milk prices in the coming months from about $3 to $6 per gallon. The increase also ripple through other dairy products like cheese and butter.
CNN reports that analysts expect Congress to extend the bill for another year or two, rather than agreeing on a new bill, but they said it's not clear when that might happen.