Deal reached for stopping spike in milk prices - FOX 8 WVUE New Orleans News, Weather, Sports, Social

Deal reached for stopping spike in milk prices

WASHINGTON (AP) - The top leaders in both parties on the House and Senate Agriculture committees have agreed to a one-year extension of the 2008 farm bill that expired in October, a move that would head off a possible doubling of milk prices next month. 

Senate Agriculture Committee Chairman Debbie Stabenow indicated that the House could vote on it as early as Sunday evening. The agreement to extend current farm law until next October was reached as negotiators hit a snag on averting a broader fiscal cliff combination of higher taxes and spending cuts Jan. 1. 

Agriculture Secretary Tom Vilsack said Americans faced the prospect of paying $7 for a gallon if the current dairy program lapsed and the government returned to a 1948 formula for calculating milk price supports.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • Local NewsMore>>

  • Baby giraffe born; it's a girl

    Baby giraffe born; it's a girl

    While the world waits for the birth of a much-anticipated giraffe baby in New York, a Louisiana giraffe quietly beat April to it.  The Global Wildlife Center welcomes Nala, the center's first reticulated giraffe baby of the year.  First-time mother Sara gave birth to Nala Sunday evening.    

    more>>

    While the world waits for the birth of a much-anticipated giraffe baby in New York, a Louisiana giraffe quietly beat April to it.  The Global Wildlife Center welcomes Nala, the center's first reticulated giraffe baby of the year.  First-time mother Sara gave birth to Nala Sunday evening.    

    more>>
  • Harahan man arrested for contractor fraud

    Harahan man arrested for contractor fraud

    Kenner Police arrest a Harahan man wanted for contractor fraud.  

    more>>

    Kenner Police arrest a Harahan man wanted for contractor fraud.  

    more>>
  • Tulane tames LSU, beats Tigers 7-6

    For one night at least, Tulane looked like the Tulane of 'last' year. Especially when it came to playing and beating nationally ranked LSU, which the Green Wave did for the third straight time last night. 

    more>>

    For one night at least, Tulane looked like the Tulane of 'last' year. Especially when it came to playing and beating nationally ranked LSU, which the Green Wave did for the third straight time last night. 

    more>>
Powered by Frankly