Fiscal cliff or dairy cliff?

Published 12/26 2012 05:20PM

Updated 12/26 2012 06:19PM

CHAMPAIGN -- Milk is something that's on all of our grocery lists and for the most part is pretty inexpensive.

Until now.

If the house doesn't renew a farm bill, the price could double. It's all because Washington is busy dealing with the fiscal cliff, something we've heard about a lot.

But what a lot of people don't know about is what is now called the dairy cliff. If congress doesn't renew the farm bill by Monday, the U.S. will revert back to 1949's dairy policy.

That policy states that the government must buy milk at twice today's price. On average, we're paying about $3.60 for milk now.

We talked to a farmer's wife who says $7.00 a gallon is unthinkable.

"It's very alarming because I usually by about 3 gallons per week. That's a lot of money for milk, I feel," Sidney Schaefer said.

Of course if this ends up happening prices for butter, yogurt and cheese will go up too.

A lot of this is being put on the backburner and the fiscal cliff is taking precedence. We'll have to wait and see if this dairy cliff some attention.

Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.