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Milk prices could double next year

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Posted at 11:20 PM, Dec 29, 2012
and last updated 2012-12-29 23:20:59-05

(WTVR) – Milk prices could double in the upcoming year if Congress does not act quickly.

Congress has until January 1 to pass a new farm bill that would keep prices down.  The bill would continue to give dairy farmers financial support from the government.

According to the USA Today, the bill would also let the secretary of agriculture to step in to adjust prices if needed.

Without the bill, milk prices could go up from $4 to $8.

The Wall Street Journal says that retailers like 7-11 and Wal-Mart are working with suppliers to provide lower prices on milk.