“Looking out into 2016, it’s easy to focus on the sheer amount of used equipment available,” says Greg Peterson, also known as Machinery Pete. “In addition to the used inventory on dealers’ lots, I’m also seeing a big increase in the number of machinery auctions.”
With the exception of combines, North American farm equipment dealers are reporting that the value of most used ag machinery continued to hold firm through Feb. and there’s little evidence of any significant shift toward lower pricing in the near term.
Ritchie Bros. is returning to Petrolia for the third consecutive year to conduct an unreserved public agricultural auction at Podolinsky Equipment, a local John Deere dealership.
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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.