This is from me and Cornell University:
A year ago, there was much speculation about what could happen to milk
prices if Congress failed to either enact a new farm bill or extend the
old one, which included reverting to a law dating from the WWII causing
the price of milk to double.
There were fears of milk prices in the stores doubling. Here's what I wrote about it last year: http://www.syracuse.com/news/index.ssf/2012/12/gallon_of_milk_for_6_it_could.html
Congress still hasn't passed a Farm Bill. So are we in danger of doubling milk prices in 2014?
Cornell economist Andrew Novakovic says no.
Novakovic, former chair of the Department of
Agriculture’s Dairy Industry Advisory Committee and professor of
Agricultural Economics at Cornell University, says Congress will
not be foolhardy enough to allow those old laws to come into effect.
“Is there any chance that we will see a doubling of milk prices in early 2014? No!
“This year, Congress seems on the verge of actually completing the task
of adopting new farm and food legislation. Although they won't get
that job done until mid-January, they learned from last year that there
is nothing to be gained and a good deal of mischief to be wrought by
letting those old programs come into effect again.”