Retail sales of ag equipment were below November's monthly forecast in all categories except for over 100 horsepower tractors, which exceeded the November forecast by 36 units.
While the majority of producers are still buying their equipment outright, there continues to be a number of farmers who have been nudged toward lease contracts in order to conserve capital and still have new, dependable equipment with which to farm their land.
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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.