12-12 IAT Dairy and Farm Bill
Unless Congress does something about it - the farm bill will expire at the end of this year. Farmers and ranchers have literally been waiting for years for a new farm bill. With only a handful of working days left on the schedule this year for Congress - American Farm Bureau Public Policy Director Dale Moore says the outlook of it happening this year is tenuous: If they don't get it done, the permanent law from 1949 will take over. Now, if you see a law that was enacted in 1949, do you suspect that it would bear on production today? Here’s one area. If you consume any dairy products, that will not be good for your pocket book. Director Moore explains why: “We are dealing with the 1949 Ag act which is 60 years out of date in terms of the policies that are in place and we are going to see an impact on dairy because dairy does not have a supply management feature in permanent law and the best estimation that we could come up with was that the folks buying a gallon of milk in the stores would see something like between one dollar and two dollars increase in price. That is a significant increase on a staple that I think you see on virtually every table in America. All milk prices will rise which is going to have a direct impact at some level in virtually every dairy product that is out there: cheese, milk, butter, ice cream.”
