Lawmakers Scramble as Milk Prices Could Rocket to $9 (DF)
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Without congressional action milk prices could double, warned the Obama administration. In response, a number of Senate members put forth a short-term extension of the farm law, which ended Sept. 30th. Government commodity programs are set to laps starting tomorrow and lawmakers are scrambling to put together bills meant to stave off the price jump.
"I would hope that as soon as is humanly possible, a decision will be made to allow us to take action," said House Agriculture Committee Chairman Frank Lucas. "We need to take positive action, put this issue to rest, and make sure that it is clear to everybody in this country that the farm bill policy has certainty and that we will not have $8 or $9 milk."
Dean Foods Co. (NYSE: DF) is the country's largest processor and distributor of dairy products, putting its stock squarely in the spotlight.
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"I would hope that as soon as is humanly possible, a decision will be made to allow us to take action," said House Agriculture Committee Chairman Frank Lucas. "We need to take positive action, put this issue to rest, and make sure that it is clear to everybody in this country that the farm bill policy has certainty and that we will not have $8 or $9 milk."
Dean Foods Co. (NYSE: DF) is the country's largest processor and distributor of dairy products, putting its stock squarely in the spotlight.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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