Retail sales for 100+ horsepower tractors exceeded our monthly forecast by 449 units and the year-to-date total was 2,754 units or 24.2% ahead of our forecast.
The U.S. agricultural equipment markets are beginning to show signs of awakening and the prospects of increased income from grain crops should fuel growth in the larger horsepower tractor markets this year.
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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.