A nine-month farm bill extension passed the Senate on Tuesday as part of fiscal cliff legislation, Politico reports.
"The upshot is a victory for Southern agricultural interests with the greatest stake in a costly system of direct cash payments to often already profitable producers," Politico says. "In the dairy arena, giant processors like Dean Foods Co. come out ahead while the outcome is a major blow for the National Milk Producers Federation, which watched with disbelief from the sidelines on New Year’s Eve."
The timing of a House vote on fiscal cliff legislation had not been determined as of Tuesday morning. Earlier, three separate farm bill extensions had been filed. On Monday, President Barack Obama urged Congress to act to prevent a tax increase for the middle class.
Click here to read the complete Politico report on the farm bill extension.