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3.47 a gallon to nearly $7. >> it seems a bit too much to me. >> reporter: why? existing subsidies expire in december, triggering a 1940s era rule that the sect staff the agriculture explains requires the government to buy milk, butter and cheese at about double the going rate. >> so a producer has a choice of buying it and selling it to me, usda, or selling it to the normal processor. obviously if they're gets twice the price, they'll set it to the u suismt da. that will lead to shortages. >> reporter: shoppers weren't happy. >> i think it's horrible, especially as a mom with a family. i thin...

The problem is that they would buy milk prices at double the rate. if congress doesn't come to an agreement by january 1st, that is what you may see happen and it may reduce the quantity of milk seen in stores. the average price of a gallon of milk is $3.47. you may see that price rise as much as $7 a gallon. anything that contains milk, butter, cheese, those price could also rise and also other commodities like corn and soy and wheat and that kind of thing. >> now you would think that congress would have a political motivation to pass the farm bill f that happens, people will be really mad. >...

>> it's only a matter of tile. we are seeing 70 cents on the dollar for everyday folks like ourselves when we see that inequality for actresses and actors it's only a matter of time. >> it will have to be somebody very special. >> i don't know if this is accurate but most moviegoers are male so if you get a big enough draw. >> marilyn monroe. >> yes, then she would get big bucks. there's a woman in germany that deserves a big old medal, she gave birth to the biggest baby that country has ever seen, 13.47 pounds at birth. >> did you say 13? >> 22.6 inches. >> he was not born via c-section, ca...

From brutally hot and dry, to drenching rains that have washed out parades and fireworks displays, those are the extremes covering much of the country this 4th of july. chad, don't rain on my parade. i just wanted to say that line. >> where are you going, carol? >> nowhere, i'm staying here. >> you have to go about 200 miles away from atlanta to get anything dry. it's just been a mess there, hasn't it? >> it has. it's been awful. >> my mom lives there, three and a half inches yesterday, that's a lot. then i looked at some of these pictures here, out of florida, inlet beach, 13.47 inches of rai...

The s&p was up six. the nasdaq added 16. markets overseas also saw a boost. the nikkei climbed 129 points while the hang seng rose 103. it is a holiday shortened week on wall street. u.s. markets are closed thursday and trading ends early friday. today, investors will get fresh housing data and earnings from home improvement retailer lowe's before the bell. many tensions will be on the radar. oil futures up a dollar overnight to just under $88 a barrel. good news for drivers planning to hit the road this holiday. prices at the pump are seven cents lower than two weeks ago, around $3.47 a g...