$7 a gallon for milk? Deal may avoid dairy cliff

Posted at 4:09 PM, Dec 31, 2012
and last updated 2012-12-31 16:11:17-05

Washington may be bickering over the Fiscal Cliff, but some lawmakers were able to agree on one thing… saving milk prices.

They agreed to a one year extension of the expiring U.S. farm law; that would head off a possible doubling of retail milk prices to seven dollars or more a gallon.

They’re hoping the legislation would be signed by President Obama by Tuesday  to avoid higher prices for milk in grocery stores.