North American sales of high horsepower (100-plus HP) tractors declined in February, but part of the drop off was absorbed by higher sales of combines and 4WD tractors, according to the Assn. of Equipment Manufacturers February report on farm machinery sales.
Earlier this month — Feb. 7 to be exact — USDA issued its farm sector profits forecast for 2018. The ag agency’s most recent outlook calls for further declines in net farm income and net cash farm income for the year ahead. But researchers at the University of Illinois Agricultural and Consumer Economics, say that, if past history holds true, the initial forecast is probably somewhat lower than what we’ll see next year at this time.
No-till farmers report that despite rising expenses last year they were able to make some money. Of the 497 no-tillers from 26 states who responded to the recent survey of No-Till Farmer in January, 68% say they were profitable.
North American equipment dealers expect the solid sales levels of commercial and consumer equipment experienced in recent years to maintain an upward trend in the year ahead, according to the results of Rural Lifestyle Dealer’s most recent survey.
When it comes to farm equipment revenue mix, European dealers rely far more on new equipment sales and less on used equipment sales than do dealers in the U.S. and Canada.
Sales of large 4WD tractors finished 2017 on a high note, but other big ag equipment — row-crop tractors and combines — ended the sales year in “flat” fashion, according to the latest figures released by the Assn. of Equipment Manufacturers.
Dealers specializing in selling and servicing irrigation systems are mildly optimistic about their chances for improved sales levels in the year ahead, but most of that optimism is based on increasing sales of parts and service.
Dealers specializing in selling compact tractors (under 40 horsepower) had another banner year in 2017 as U.S. and Canadian sales of the small equipment reached all-time highs.
Despite ongoing concerns with low commodity prices, North American farm equipment dealers are far more optimistic about their business prospects than they were a year ago.
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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.