As talks in Washington continue about the looming fiscal cliff, some progress has been made letting dairy farmer's breathe a sigh of relief.
Gary Henrickson's dairy farm, Bella Holsteins, Inc. has been open for over 30 years.
But the last couple have been rough on business.
And the Farm Bill that lapsed on September 30 certainly isn't helping their cause.
Many have speculated that the dairy prices could sky rocket doubling the price of milk come the new year.
But Henrickson said that just isn't likely.
"It's possible, it just isn't likely."
According to the AP, 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 could head off a possible doubling of milk prices next month.
In addition to the one-year extension that has the backing of the committees, the House GOP is also considering two other extension bills - a one-month extension and an even smaller bill that would simply extend dairy policy that expires Jan. 1.
Expiration of those dairy programs could mean higher prices at the grocery store within a few weeks. Agriculture Secretary Tom Vilsack said Americans face the prospect of paying $7 for a gallon of milk if the current dairy program lapsed and the government returned to a 1949 formula for calculating milk price supports, but it all actuality, the likelihood of that happening is very slim.
And regardless of what happens in Washington, dairy farmers have quite the uncertain year ahead of them with many hoping things go up from here.
EYE ON NOCO