Lexington, Ky. (WKYT) - A new year is on the way and it may bring in higher milk prices. Some experts predict the price could jump as high as $7 per gallon.
Why such an increase? The current agriculture bill expired this summer, and temporary aid to farmers is set to expire on January 1. That aid includes a dairy subsidy that allowed the Federal Government to purchase milk prices if they fall below half of the national average, which is $3.65 per gallon. According to experts, without a plan in place, prices could jump to about $7 per gallon.
This change could also cause a ripple affect in anything consumers buy with diary products in it.