The ag equipment industry is facing a variety of challenges at the moment: new equipment shortages, rising interest rates and fear of a global recession, to name a few. This has some in the industry wondering: which factors are impacting equipment purchase plans for next year the most?
According to the latest Ag Economy Barometer from Purdue University, 40% of growers who said now is a bad time to make large investments were most worried about the rising prices of farm machinery and new construction.
According to the October update to the CEMA Business Climate Index, the index's development has continued its sideways movement after the declines in the course of the war in Ukraine.
Ag Equipment Intelligence has compiled data from the SEC filings of publicly-traded manufacturers to compare their research & development (R&D) spending with their ag equipment sales.
Farm plows, harrows, rollers, pulverizers and attachments reported the greatest year-over-year price increase in September, up 33.7% from September 2021. This category also had the highest month-over-month price increase at +5.9%.
Ag Equipment Intelligence’s latest Dealer Business Outlook & Trends survey saw a notable drop-off in optimism in dealers’ new and used wholegoods revenue forecasts.
According to Farm Equipment’s second annual survey to farmers about their shortline manufacturers, farmers continue to buy shortline equipment for the quality they get for the price and the major lines’ lack of experience in niche areas.
According to the latest update to the Ag Economy Barometer from Purdue/CME Group, the Farm Capital Investment Index hit another record low reading in September at 31.
Data from Statistics Canada on the country’s agricultural implement manufacturing industry (NAICS 33311) reveals that 77.5% of all Canadian ag implement manufacturing exports went to the U.S. in 2021.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.