$7 for a gallon of milk? It could happen next year - Cincinnati News, FOX19-WXIX TV

$7 for a gallon of milk? It could happen next year

Posted: Updated:
CINCINNATI (FOX19/CNN) -

When you go to the store to buy a gallon of milk, the average price is about $3.47 a gallon. That could dramatically change in the new year.

The secretary of agriculture says milk prices could double to around $7 a gallon. And it's not just milk. Anything dairy --- like butter and cheese --- could go up, too.

That's because Congress hasn't passed a new Farm Bill. The hold-up is over the food stamp program, which is a part of the Farm Bill. 47 million Americans receive food stamps, almost double the amount from a decade ago. That's leading some to call for cutting food stamps. But the House and Senate can't agree.

Still, many analysts expect Congress to come together for some solution to the "dairy cliff" before January 1.

Copyright 2013 WXIX. All rights reserved.

Powered by WorldNow