North American large ag equipment sales declined 20.1% in May, following April’s 11.1%drop. Mid-range and compact tractor sales were robust for the month, up 9.3% and 18.1%, respectively.
In a note, RW Baird analyst Mircea (Mig) Dobre, said, “OEM production cuts are having an impact as dealer inventories continue to decline in large ag, while compact tractors saw their first year-over-year (yr/yr) inventory decline in over 2 years.”
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