Milk Prices May Skyrocket Up to $8 a Gallon

By Chase Cain
|  Tuesday, Oct 29, 2013  |  Updated 5:42 AM PDT
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$8 for a gallon of milk? It could soon be reality if Congress doesn't pass a new farm bill. Chase Cain reports.

$8 for a gallon of milk? It could soon be reality if Congress doesn't pass a new farm bill. Chase Cain reports.

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$8 for a gallon of milk?

It could soon be reality if Congress doesn't pass a new farm bill.

Nicholas Bulloch, who was shopping at the Gateway Supermarket in Emeryville Monday, said he almost has to ignore the price on the shelf for milk because he has a growing son.

Bulloch said a gallon of gas is comparable to a gallon of milk.

"So either fill the car up or fill the boy up for nutrients for life -- he comes first," Bulloch said, referring to his 6-year-old son.

But other shoppers NBC Bay Area talked to said they would cut milk out from their grocery lists if prices skyrocketed toward $8.

Shopper Deborah Miles said she probably wouldn't buy any milk for a while.

"I don't drink it that much so I'm not going to miss it," she said.

What may drive milk prices up are in a new farm bill tied to the fight in Congress over food stamps.

If a new farm bill is not passed, farmers of cows -- or anything else -- would lose their subsidies.

Agricultural economists said the subsidies stabilize prices at the store.

"Prices are going to move, but it ensures prices remain at a reasonably low level and are affordable for consumers," said Jeffrey O'Hara, an agricultural economist.

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