Farm bill on its last legs according to IDFA
The most likely scenario is an extension of the current bill
The US House of Representatives has yet to consider the House Agricultural Committee’s version of a new farm bill, making it unlikely that a new five-year Farm Bill will pass by the start of 2013, according to the International Dairy Farmers Association (IDFA). Assuming no new bill has been passed by Jan. 1, 2013, Congress is expected to extend the current bill. According to IDFA, a short-term extension would likely revive the Milk Income Loss Contract program and the Dairy Product Price Support program, as well as prevent a reversion to an underlying—and anachronistic—1949 law that set price controls and limits on private acreage and production.