Large ag equipment retail sales continued to recover in July, according to analysis from RW Baird analyst Mircea (Mig) Dobre. Compact/midrange equipment saw continued outsized increases.
U.S. large ag retail sales were up 7.7% year-over-year in July (June: +6.3%), Canada was up 20.7% (its first increase in 19 months). Combined U.S./Canada large ag sales were up 10% (June: +4.6%). Mid-range (40-100 horsepower) and compact (under 40 horsepower) tractors remained resilient, growing 27.6% and 40.1%, respectively.
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