Deal could prevent spike in milk prices

UPDATED 3:47 AM EST, December 31, 2012

WASHINGTON (AP) — The leaders of the House and Senate Agriculture committees have agreed to a one-year extension of the 2008 farm bill that expired in October, a move that could head off a possible doubling of milk prices next month.

But House leaders have yet to say whether they will allow a vote on it.

The committee leaders announced Sunday that they had agreed on last-minute legislation that would extend the farm bill and replace dairy programs that expire at midnight Tuesday.

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