No New Farm Bill Likely Means Soaring Milk Prices

The farm bill expired Sunday as congress failed to enact a new 5-year farm bill.

Dairy farmers who supply New York's fast-growing yogurt industry and cheese and fluid milk markets have no safety net now that the milk income loss contract has expired.

The program compensated farmers when milk prices fell below a certain threshold. The house could vote on the bill in mid-November, but the delay will begin affecting farmers soon as they plan for next year.