Ag Equipment Sales Down
From the Ag Information Network, I’m Bob Larson. Recent sales reports for agricultural machinery have shown lower trends in the U.S. and Canada.
Curt Blades, senior vice president of ag services at the Association of Equipment Manufacturers, says the lower trend is a reflection of the challenging ag economy …
BLADES … “The equipment market has been pretty soft for the last year, really reflecting the overall ag economy and some of that uncertainty that comes with the overall economy. There have been some storm clouds on the horizon, whether that is related to weather, related to commodity markets, related to geopolitical issues, or even just the lack of a farm bill, and all these things lead to uncertainty. Unlike inputs that have to be purchased year after year, like seed or crop protection chemicals, tractors sometimes can get delayed, and so, we're seeing that reflected in the market right now. It's that reflection of uncertainty.”
The downward trend in equipment sales from last year, Blades says is continuing …
BLADES … “And as we start out 2025, we're seeing that same trend continue, and that's been across the board. Whether it's the smallest horsepower tractors, those under-40 horsepower tractors that are currently down ten percent from where they were this time last year, to those large, self-propelled combines that are down 75 percent from where they were this time last year, we’re seeing some softness across the board. I expect that to continue until some uncertainty is cleared up.”
Despite the trend, Blades is more optimistic as spring planting approaches.
