One of the reasons Machinery Pete is a leader in his field is because he spends a lot of time at auctions each year.
It’s surprised a lot of people that used equipment values have been holding flat for the past 12 months.
In the Machinery Pete Used Value quarterly report, there are two factors going forward that could affect used values.
The first is the number of farm machinery auctions. In July, there was a sharp increase of the number of machinery auctions around the country. In Spring 2017, he predicts more sales, but a lot of them will be pushed by ag lenders.
The second is the lease-return issue. One thing specifically to look at is how will John Deere financial and Case credit deal with the wave off lease-return equipment coming off lease. How quickly will they move it and at what price point?
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