Milk Prices to Double if Farm Bill compromise isn't reached - WGEM.com: Quincy News, Weather, Sports, and Radio

Milk Prices to Double if Farm Bill compromise isn't reached

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QUINCY, Ill. (WGEM) -

 

According to CNN Money, the law states if a new farm bill isn't reached or the current one is extended by the new year, the dairy subsidy would expire.  That means a 1949 statute would come into play and the cost for consumers would rise.

Here at Winking's Market, a gallon of milk costs about $4, but when Lindsey Schmidt heard it could double, she said she would have to find other ways to save money.  
"The money that I'm saving to cook is no longer there because everything is going to be more expensive and that'll lead me to a fast food line other than a grocery store line," she said.  
Schmidt said she goes through a gallon of milk a week, but  she's concerned if milk prices double, other items might follow. 
"That only means it gives them another chance to make something else double. So if this is just the start who knows what can come next," Schmidt said.   
But people can't buy milk in bulk because of how quickly it spoils, and business owner Frank Winking says if the price of milk doubles, it's going to change how often he gets milk delivered.
"It would probably cause you to change what you're ordering and your inventory you're carrying. I mean if you're going to be selling less, you're going to have to be watching being a dated item, it spoils and if you're talking doubling the amount, you would talk about selling less," he said. 
And Winking said if Congress can't come to an agreement, it's not just going to hurt consumers, but business owners like himself as well. 
"I would think that people budgeting their weekly amount for food would be forced to make changes and it would probably mean not doing without milk but less of it which would be less sales, and any price increase is always bad news," Winking said.

According to CNN Money, Congress can prevent the increase by extending the current farm bill, passing a new one or pass a provision making sure the 1949 law doesn't take effect.

 

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