Drivers for the ag economy in 2021
An ag economist says there are some big drivers causing a lot of uncertainty for the state of the agriculture economy in 2021.
Scott Irwin with the University of Illinois tells Brownfield there is lot of optimism around COVID-19 mitigation as vaccination distribution continues, but a lot will depend on how rapidly people are vaccinated and how effective those vaccines turn out to be.
“It’s sure going to be interesting to see what that does to, for example, eating away from home and how that might effect the demand for meat in particular.”
He says the amount of government aid to farmers in 2021 is another factor.
“We are coming off a year where it looks like total government payments to ag are going to be about $50 billion. How are we going to adjust to probably a far led generous environment moving forward?”
Irwin says the transition to a new administration and the decisions they make will have a big impact on the ag economy as well.