$7 a gallon for milk? Deal may avoid dairy cliff

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Washington may be bickering over the Fiscal Cliff, but some lawmakers were able to agree on one thing… saving milk prices.

They agreed to a one year extension of the expiring U.S. farm law; that would head off a possible doubling of retail milk prices to seven dollars or more a gallon.

They’re hoping the legislation would be signed by President Obama by Tuesday  to avoid higher prices for milk in grocery stores.