How farmers in Iowa and Nebraska bounce back from this spring’s disastrous flooding could have a major impact on commodity prices and ag equipment and input sales. But the full effect will take time to measure.
In his annual message, John Deere’s Chairman, Sam Allen, described the company’s long-term prospects as “bullish,” but added, “We don’t mean to minimize the challenges we’re facing at the present time … there are signs that some of our key markets may be approaching a bottom, but we are not anticipating a turnaround in 2017.”
Comparing Deere & Co.’s outlook for 2017 issued on Nov. 23 to that of USDA’s issued earlier in the year, you would have to conclude that the world’s largest manufacturer of farm equipment is a bit more optimistic about the year ahead than is the U.S. ag agency.
USDA’s Economic Research Service is projecting 2016 net cash farm income will slip to $90.1 billion and net farm income to $66.9 billion, largely the result of declining animal and animal product receipts.
Comparing Deere & Co.’s outlook for 2017 issued on Nov. 23 to that of USDA’s issued earlier this year, you would have to conclude that the world’s largest manufacturer of farm equipment is a bit more optimistic about the year ahead than is the U.S. ag agency.
Despite robust U.S. tractor sales in recent years, overall tractor sales remain far from their 2004 and 2005 peak. Nonetheless, in terms of dollars, ag equipment shipments remain strong and healthy.
Each monthly issue of Ag Equipment Intelligence is like getting one-on-one personal advice from the world's most trusted ag equipment industry experts. Advice that hasn't been watered down or distorted by outside influence, providing the latest and most insightful farm equipment analysis. AEI explores where the ag equipment industry is going — not just where it's been. No filler. No bias. No conflict of interest. You can access the PDF issue archive by clicking here.
There was plenty of technology on display at the World Dairy Expo in Madison, Wis., a few weeks ago. Farm Equipment editor Mike Lessiter caught up with Monarch Tractor’s John Issacson and got his take on the top 5 applications in autonomy right now.