AGRIBUSINESS: Last Week To Finish Farm Bill
Last week, House Speaker John Boehner asked for a one month extension on the farm bill in a weekly press conference. Farm Bill Conference Chair Frank Lucas says he doesn’t want it to come to that.
This is the last week that both the House and Senate are in session for the remainder on the year. If a farm bill is not passed in this time, 1930s and 40s permanent law will go into effect.
USDA asks for farm bill negotiations to continue until House and Senate leaders reach agreement on a comprehensive farm bill.
It would take tremendous effort for conferees to finish a conference report before the House leaves for recess, but House Majority Leader Eric Cantor says the House is prepared to take it up if a conference report is offered.
If implemented permanent law will double milk prices and set up outdated parity prices to the market.