Ag Headlines, Tuesday October 20, 2015

USDA Funds to Aid Rural Businesses

USDA announced 12.5 million in loans and grants to aid rural businesses and create jobs on Monday. The funding announced by USDA Secretary Tom Vilsack for 39 projects will help rural businesses in 21 states and Puerto Rico. The funding comes from the USDA Rural Economic Development Loan and Grant Program, the Intermediary Relending Program and the Rural Microentrepreneur Assistance Program. Secretary Vilsack said the funding “enables these partners to provide their local small businesses and start-ups access to the capital and technical assistance they need to be competitive in today's global economy.” USDA’s Rural Business-Cooperative Service has helped 85,000 rural businesses since the start of the Obama administration, according to USDA.

New Mexico Non-Profit Seeks Farming as Therapy

A non-profit organization wants to offer farming as a therapy for mentally ill patients. Casas de Vida Nueva (cah-sas de Vey-duh –new-ava) wants to offer farming to patients who have been diagnosed with schizophrenia, bipolar disease, various forms of clinical depression, according to project manager Michael Barndollar. KOAT-TV in Albuquerque reports the county commission could decide this week whether or not to allow the project to move forward. The non-profit wants approval to rezone 15 acres for the facility that would eventually house up to 30 mentally ill patients. Neighbors fear what may happen if a patient should wander off from the facility and say the many trains that travel through the area are likely not conducive to therapy. Organizers say staff will be onsite to oversee the programs and that they will work with local law enforcement if someone walks away from the facility.

Wal-Mart Outlook Could Squeeze Grocery Suppliers

One of the nation’s largest supermarket-style stores could squeeze suppliers for price cuts on everything from sports equipment to groceries. Reuters reports Wal-Mart Stores earnings numbers suggest more price cuts and reduced cost-sharing deals. Last week, Wal-Mart stunned Wall Street by forecasting that its earnings would decline by as much as 12 percent in its next fiscal year. Officials for a top recruiting firm for Wal-Mart suppliers said “suppliers are going to have to help Wal-Mart get back on track." That despite the fact Wal-Mart still generates more than $340 billion of annual sales in the U.S., accounting for more the 10 percent of the total retail market. However, to risk having brands kicked off Wal-Mart’s shelves because of a dispute over pricing can badly hurt a supplier.

NAFB News