Large equipment sales up in 2023

The equipment market has been very strong, According to Robert Kisner with Purple Wave, which is an online auction service.

“Especially in the ag construction, we've seen a little bit of softening in the fleet market, but overall the supply and demand, we still have a big demand and a small supply. You know, that's been kind of the trend ever since the COVID. You know, as some of these manufacturers are kicking back up and getting the parks and things they need to break some of the new manufacturing models coming out. We're starting to see that change a little bit. But you know, there's still some situations out there that people place an order for new equipment.”

Kisner says demand for good used equipment continues along with demand prices are higher as well. And according to equipment.com from a presentation at the 2023 associated equipment distributor Summit, which was held earlier in January. Pinon Principal, Mark Johnson forecasts four to 6% growth in large ag equipment sales for 2023 Johnson says while the forecast may seem disappointing, it comes after two years of notable growth. He noted Midwest dealers would be more likely to see 5% growth and could possibly see up to 6% in 2023. Among the many factors Johnson looks at when making these forecasts as the ag economy barometer, specifically the percentage of growers considering it a bad time to make large investments