Experts Warn Milk Prices Will Rise Without Farm Bill Agreement

In Washington, Congress is trying to work out a deal on a new farm bill. If they fail to do so, you could feel it in your pocketbook. KLBK's Michaela MacDonald tells us why in today's Money Matters.
If Congress doesn’t reach an agreement on the Farm Bill by the end of the year, consumers will see the effects at the grocery story. Experts say the price of a gallon of milk could double or even triple.

Texas Tech Professor and agricultural expert Darren Hudson says milk prices would be the first to spike, followed by other dairy items like yogurt and cheese.

If Congress doesn’t reach an agreement by the end of December consumers would see an immediate increase in January. 

"A lot of people would say that you know if you are looking at $3 and $4 gallon of milk now, you could be looking at $8 to $10 gallon of milk after things sort of play out." said Hudson. "That product tends to hit a lot of households especially at the lower income strata, it has an impact immediately which Congress doesn't want to see their constituents have to pay that price."

Hudson says there is a lot of agreement between the House and Senate, who each have their own versions of a farm bill now, so he is hopeful they will be able to get something passed quickly.

Congressman Neugebauer was at the Farm Bill Conference Committee Meeting today, he says he wants to finalize "long-term, market-based policies that save taxpayer dollars."
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