An annual outlook for the U.S. rural economy, compiled by CoBank’s Knowledge Exchange, suggests increased uncertainty for the next year. Rob Fox, director of the Knowledge Exchange, says increasing costs is one of the many factors that could shape 2022.
Fox says 2021 provided the best commodity incomes in eight years. He anticipates them to remain steady for both grains and livestock.
Rob Fox of CoBank says multiple other factors could impact the rural economy next year, including fewer government payments, the pandemic, and any military movement by China and Russia considered hostile to Western interests.