CoBank Outlines Ten Factors Shaping Agriculture in 2021

DENVER, CO – Even though the calendar no longer says 2020, the American economy continues to struggle.

According to a recent outlook report from CoBank’s Knowledge Exchange division, the speed of the economic recovery will largely hinge on the availability, dissemination and reach of COVID-19 vaccines which would push the expected burst of pent-up consumer demand into the latter half of 2021

“The coming year will be a recovery year for most Americans and the businesses that make up the U.S. economy,” explains Dan Kowalski, vice president of CoBank’s Knowledge Exchange division. “The early part of the year should look very different than the latter, but in total, economic growth is estimated to be about 4 percent, following a retreat of roughly 4 percent in 2020.”

The CoBank 2021 outlook report examines 10 key factors that will shape agriculture and market sectors that serve rural communities throughout the U.S.
1. Global Economy: Uneven Recovery Ahead
2. U.S. Economy: COVID is Still the Economy
3. Monetary Policy: Less Dramatic but No Less Critical
4. U.S. Government: Sweeping Leadership Changes
5. U.S. Farm Economy: A Strong 2020 Finish Boosts Potential
6. Specialty Crops: Preparing for More Shifts in Consumer Demand
7. Grain, Farm Supply and Biofuels: Recovery in Motion
8. Dairy and Animal Protein: Higher Feed Costs and Restaurant Reboot
9. Rural Electricity: From Reactive to Adaptive
10. Rural Communications: Big Spending Not Likely, But Regulatory Change Is

You can find the full report at CoBank.com
(SOURCE: All Ag News)