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Potential milk price hike raises concerns

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WILMINGTON, NC (WWAY) -- Along with the fiscal cliff, have you ever heard of the dairy cliff? The Farm Bill is set to expire and that could send the price of milk sky rocketing, some reports say double.

One local grocer says that could be bad news because milk is such a basic, staple item.

"It means whether the price goes up or goes down people generally buy the same quantities of them," Ben Long, General Manager at Carolina Farmin’, said. "It's very similar to gas because prices can double and people have to get to work and people still need to drink milk."

The price of milk affects just about everyone, and not just milk but all sorts of dairy products. One shopper we spoke with says you are not stuck with dairy

"I suppose that if it got more expensive than the alternatives like soy milk and almond milk people might start switching and that might affect the market," Mike Kelsey said.

Still families go through a lot of milk, and for some cutting back will be the only way.

"It still is too early to speculate on whether prices will fluctuate up or down," Long said.

So like the fiscal cliff, we wait and watch.

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