Farm Headlines for Tuesday March 15, 2016

Ag News Headlines for today, Tuesday March 15th, 2016 include no interest rate hike, yet; 29 new soy products last year and organic pet food.

Interest Rates Not Changing at Next Fed Meeting

The Federal Reserve will not increase interest rates at this week’s meeting but will likely hint that rate hikes are on the horizon. Reuters reports that as long as U.S. inflation and jobs continue to strengthen, economic weakness overseas won't stop rates from rising soon. The last time Fed officials met, uncertainty over the impact of slower growth in China and Europe drove policymakers to signal it would stay on hold. New forecast this week following the meeting are expected to indicate the possibly of two or multiple rate hikes, starting around mid-year. U.S. inflation has shown signs of stabilizing, according to data compiled by the Fed. However, Fed Chair Janet Yellen may be wary of sending too strong a signal of coming rate hikes, for fear of creating unnecessary volatility in markets.

Soy Checkoff says 29 New Industrial Products from Soy Launched Last Year

Last year, the soy checkoff partnered with researchers to develop 29 new soy-based products that replace petrochemicals and help manufacturers meet sustainability objectives. The United Soybean Board said these products and hundreds of others developed with checkoff support, add value to U.S. soy and expand its market potential. Products developed with checkoff support in 2015 include insulating foam that helps green building contractors earn LEED, or Leadership in Energy & Environmental Design certification, soy-based adhesives that replace formaldehyde without compromising quality, lubricants and solvents that reduce reliance on petrochemicals, and rubber belting that farmers can use in their equipment. USB says new uses have helped farmers increase demand for U.S. soy from 14 million bushels in 2003 to more than 111 million bushels in 2013.

California Company to Provide Organic Chicken, Duck and Turkey Pet Foods

California’s Superior Farms Pet Provisions will partner with Pitman Farms brand Mary’s Pet Food that features a raw pet food diet made with organic chicken, and free range duck and turkey. Meatingplace reports Mary’s Pet Food is also grain and gluten free. The companies are considered ‘farm to pet’ suppliers. Pitman’s Pet Foods uses all organic fruits and vegetables in their formulas. Superior Farms Pet Provisions and Dakota Treats produce natural lamb, venison, and beef pet treats and chews from its own facilities in the United States and New Zealand.

NAFB News