Milk prices could surge if U.S. goes over "dairy cliff"
Eight dollars for a gallon of milk? It could happen if Congress is unable to pass a new Farm Bill by the end of the year. If lawmakers cannot agree on a deal, the law will revert back to legislation from the 1940s that requires the government to buy dairy products at about double the current market rate. Chris Galen, Senior Vice President with the National Milk Producers Federation, talks about the likelihood of going over the “dairy cliff” and the impact the Farm Bill has on the dairy industry.