According to a monthly report of USDA data compiled by the U.S. Meat Export Federation (USMEF), U.S. pork exports increased 22% year-over-year in August to 244,256 tons. Total pork export valued increased 19% to $588.8 million. This could be good news for sales of utility tractors in the 40-60 horsepower range, which are most commonly used in the production of livestock.

The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for August was $9.2 billion, up 3% year-over-year from new business volume in August 2018. Volume was down 2% month-to-month from $9.4 billion in July. Year to date, cumulative new business volume was up 3% compared to 2018.

According to a report from the Wall Street Journal, the U.S. and Japan have signed a trade-enhancement agreement set to lower tariffs on U.S. agricultural exports to Japan. Signed at the UN General Assembly, the agreement aims to relieve stress placed on U.S. farmers by both a lingering trade war with China and a frustrating growing season.

Dealers who Ag Equipment Intelligence editors have spoken with in recent weeks say the corn growers in their areas are in better shape than soybean producers. As a result, they aren’t expecting their customers growing soybeans to be in the spending mood when it comes new or updated equipment.