Our data bases include information for tractor sales derived from AEM’s monthly Flash Reports that dates back to 1969, USDA reported net farm income that dates back to 1969 and U.S. Department of Labor’s GDP data that dates from 1970.
As we adjust to the new normal that the pandemic is bringing, and for us to continue to feed North America and the world, we need our lawmakers to focus on ways that they can truly help agriculture.
Recent quarterly earnings reports for the major farm machinery manufacturers were described as either “better than expected” or “could have been worse,” according to several industry analysts. This is to say, at least, AGCO and Deere exceeded analysts’ expectations. (CNH Industrial didn’t.)
In line with June, compact tractors, 40-99 horsepower tractors, 100+ horsepower tractors and combine sales exceeded expectations in July, while 4WD tractors was the only category to not beat expectations.
It’s difficult finding anything positive coming out of the COVID-19 pandemic, but it appears the stay-at-home/work-from-home directives are pumping up the sales of small farm machinery.
Readers of Progressive Farmer magazine were surveyed “to give voice to how owners rate their farming equipment.” The Reader Insights Tractor Study, authored by the magazine’s senior editor, Dan Miller, revealed that owners gave John Deere and Kubota the highest marks for overall owner experience.
Compact tractors, 40-99 horsepower tractors, 100+ horsepower tractors and combine sales exceeded expectations in June, while 4WD tractors was the only category to not beat expectations.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.