In its 2Q23 earnings report released July 27, AGCO reported $704.1 million in sales of combines, application equipment and other machinery for the first half of 2023, a 65.7% year-over-year increase
Large ag equipment unit sales growth decelerated to +0.3% year-over-year in July, according to the latest data from the Assn. of Equipment Manufacturers.
The latest data from Statistics Canada on Canada’s agricultural implement manufacturing industry (NAICS 33311) reveals that 61.5% of all Canadian ag implement manufacturing imports came from the U.S. in 2022, up from 59.4% in 2021.
The prices of major fertilizer products in Illinois began increasing in 2021, peaking at various points in the 2nd quarter of 2022, according to an Aug. 1 report from farmdocdaily.
CNH Industrial reported its 2Q23 earnings on July 28, showing growing financial revenue, wholesale financing receivables and levels of finished goods inventories.
Hay machinery & attachments reported the greatest year-over-year price increase in July, up 8.1% from July 2022. This segment also had the highest month-over-month price increase at +4.9%.
In its 2Q23 earnings report released Aug. 9, Kubota reported $10.59 billion in total revenue for the first half of the year, up almost 21% year-over-year.
In this podcast, analyst Chris Johnson forecasts the ag equipment industry will see a "shallow trough" slowdown. In the Technology Corner, Noah Newman takes a look at precision tech at this year's National Strip-Tillage Conference. Also in this episode, farm production expenditures are up for 2022 and Kubota reports earnings for the first half of 2023.
Overall unit sales of U.S. combines climbed 10.6% compared to July 2022, while sales of tractors declined 5.2% in the same month in 2022, driven largely by softness in the smaller horsepower segment.
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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.