Moving Iron Podcast

Record-Breaking Auction Prices Signal Scarcity in Top-End Used Machinery

Mon, 27 Apr 2026 20:20:11 GMT

“Top-end” farm machinery is hard to find, driving auction prices up over the years. Case in point: The average auction price for a John Deere 8R340 ( mentioned in Pete’s Pick ) has gone up 12.5% in the first quarter of 2026 compared with the same time frame in 2025, according to Machinery Pete .

“The thinning at the top-end of the used equipment market in terms of volume-based paired with the lack of new sales the past couple of years is really starting to show up in the auction market,” he says.

High Auction Prices Highlight Growing Demand for Quality Used Units

Testament to the trend for high-quality, well-kept equipment, on April 14, a 2009 Stinger 6500 bale wagon with 53,000 miles sold for $140,000. This is the highest auction price on a pre-10 model Stinger 6500 in 15 years.

For reference, the price tag for a newer 2024 Stinger is more than $300,000. Machinery Pete explains that farmers will tend to go with the less expensive option, as long as it is well-maintained.

“At $140,000, if a new one is $340,000, it’s just such a more palatable option than that new number,” says Machinery Pete.

This trend continues with this week’s Machinery Pete’s Pick . On April 25, in Albertson, N.C., a 30-year-old John Deere 6500 three-wheel sprayer with 2,486 hours sold for a record of $65,000 at an auction hosted by Jason Aycock Auctioneering . That price tops the previous record by $15,000.

That same day in Scottsville, Ky., a 2011 Kubota M9540 2WD tractor with a loader and 4,524 hours sold for $45,650 at an auction hosted by Mills Real Estate and Auction Company . That’s the second-highest auction price ever on that model.

An auction in Union, West Virgina, by David Atkins Farm Equipment also featured two record-high sales showing farmers would rather buy pre-owned, well-kept equipment:

Massey Ferguson 4707 tractor with a loader and 900 hours sold for $54,500, a record-high auction price on that model.
1994 John Deere 7600 MFWD tractor with 8,309 hours sold for $69,000, the highest auction price ever on a John Deere 7600 with more than 4,000 hours.

Meanwhile, in Berger, Mo., Schneider Auctioneers LLC had a couple hot-ticket tractors of their own:

2004 John Deere 7320 2WD with only 195 hours and one owner sold for a record-high $106,900.
2008 John Deere 7730 MFWD tractor with 257 hours and one owner sold for $162,700. This is the second-highest auction price ever on a 7730.

Securing High-Quality Equipment Before Inventory Thins

The best time to buy equipment is, arguably, between the planting and harvesting seasons, says Casey Seymour.

“Look how much has been picked over already and where we’re sitting today, I think your best opportunity for good quality equipment is going to be between planting season and harvest,” says Seymour.

Procrastinating until the last quarter of the year to buy equipment risks the quality of equipment for sale. The machinery can also get more expensive as the year goes on. Machinery Pete points to the 12.5% increase in used prices for John Deere 8R340s. This can lead to the “lesser quality” equipment becoming more expensive.

“When the good stuff goes away, it’s all been bought up that the second-tier stuff now becomes the ‘good stuff’,” Machinery Pete says.

Listen to the latest Moving Iron podcast for more from Machinery Pete and Seymour on the continued development of tractor sales.

The Used Equipment Sweet Spot: Why Age and Hours are Redefining Value

Fri, 10 Apr 2026 21:25:19 GMT

Classic and late-model iron has been a hot commodity with recent auctions breaking records. For example:

A 2023 John Deere X9 1100 with 1,132 engine hours sold for $510,000. “That’s the highest auction price I’ve ever seen on an X9 1100 with over 1,000 engine hours,” Machinery Pete says.
A 1982 International 5288 two-wheel drive, with 6,498 hours sold for $30,000.
A 1993 Case IH 7110 with 4,436 hours sold for $45,500.

Despite the age of the machine, Casey Seymour says these older models still hold value for farmers in need of equipment.

Sweet Spots for Machinery Demand

The “sweet spot” in used equipment continues to be the 10-year mark, according to Machinery Pete . Everyone is looking for a 10-plus-year-old tractor in good condition with low hours, he adds.

Seymour broadens the sweet spot to the eight- to 12-year-old gap. A recent auction in Rock Rapids, Iowa, featured a 2004 John Deere 8120 with only 897 hours that sold for a record high of $158,000.

“That was almost 10,000 over the highest I’d ever seen,” Machinery Pete adds.

When it comes to the sweet spot, both Machinery Pete and Seymour agree the most value lies in the three- to -seven- year age range. At the moment, supply is limited, so machines might be harder to come by.

Then there’s the pre-DEF equipment.

“In 2015 and 2016, people weren’t going back and trying to buy a 2012 or something like that; it wasn’t on the radar, but today they are,” Seymour says.

When it comes to condition, the dollars add up when the equipment has been well maintained.

“If you want to trade, your dealer is going to be able to sell it immediately,” Machinery Pete explains.

He once heard of someone who “washed the cab with a toothbrush,” which says a lot about how the machine was maintained. Gold Key tractors, a John Deere machine whose owner participated in a special factory tour and drove it off the assembly line, also maintain their value. Going to the factory or providing specific maintenance details can make a huge difference, Machinery Pete explains.

Listen to the latest Moving Iron podcast for more from Machinery Pete and Seymour on the evolution of the buyer’s intent in tractors.

March Auction Volume Surges as Used Equipment Values Hit Historic Highs

Fri, 27 Mar 2026 21:48:59 GMT

March continues to be a busy month for equipment auctions. According to Machinery Pete , there has been a 5% increase in the total number of machinery auctions so far this year. As producers shift away from buying new equipment, the search for high-quality used machinery with fewer hours has intensified.

Machinery Pete’s Pick of the Week highlights this trend, showcasing record-breaking sales and historic prices over the past month.

“The number of auctions is up, and a big part of that is driven by the guys at the top of the chain who maybe would just keep farming because they love it to their core,” he observes.

A standout example of this demand is a 1986 John Deere 4850 with 4,100 hours that sold for a record $80,500 on March 21. Despite a volatile global geopolitical landscape, Casey Seymour adds that auction values have remained remarkably resilient.

“The one thing we’re seeing so far with auction values is that they’re staying ‘stable’ compared to everything else around them,” Seymour explains.

The “Gravity” of Mid-Age Iron: Why Farmers are Flocking to Five- to 10-Year-Old Machinery

Farmers are increasingly gravitating toward equipment in the five-to-10-year-old range. Dealers report that this specific inventory is moving rapidly, with some lots selling out entirely. Conversely, one-to-two-year-old models remain scarce in the marketplace.

Seymour warns that this trend could leave buyers “stuck in a box,” as they are forced to compete for a tightening supply of premium older machinery.

“As you’re seeing these things come up, it’s like more and more gravity is being put on these pieces of equipment that are five to 10 years old,” Seymour says.

Machinery Pete notes that this market dynamic is unique in his 36-year history of tracking data.

“This is the first time in my 36 years I’ve seen values move higher when there’s not a component of corn and beans going up behind it,” he says.

Industry Experts Brace for Shifting Demographics and a Potential Drop in Active Buyers

The industry is also keeping a close eye on buyer demographics over the next 24 months. While older farmers are currently the most active participants at auctions, their imminent retirements raise concerns for future market demand. Seymour suggests these producers might begin stretching out trade cycles and making their current equipment last longer before finally “hanging up their boots.”

“I don’t feel like there’s going to be as many buyers as there are today, as we see come to [auctions] today,” Seymour concludes.

Listen to the latest Moving Iron podcast for more of Machinery Pete and Seymour.

March Madness: More Auctions, More Opportunities to Buy

Fri, 13 Mar 2026 19:01:00 GMT

March is here, which means it’s one of the busiest times of the year for machinery auctions. A quick visit to the auction calendar on MachineryPete.com reveals more than 110 auctions scheduled from March 13 through the end of the month.

According to Machinery Pete, auction volume is up roughly 4.5% from late 2025 and is still climbing, driven heavily by retirement sales.

More auctions means more opportunities for farmers to update their equipment lineup. As evidenced by Machinery Pete’s Pick of the Week , farmers are willing to pay top dollar for the right iron.

“These solid auction prices … I think it’s structurally tied to the fact there just aren’t as many one-, two-, and three-year-old items in the used chain,” says Machinery Pete, co-host of the Moving Iron podcast.

Familiarity often dictates buyer behavior, adds Casey Seymour. He says it’s not uncommon for farmers to search for the same tractor model they currently own but with fewer hours.

This trend ties into a broader shift toward downsizing equipment inventory. Rather than keeping a couple of extra tractors or implements on hand, farmers are focusing on right-sizing their machinery lineup to operate more efficiently, Seymour adds.

Retrofit Equipment Is a Challenge to Value

Whether you call it a retrofit or an update, that seems to be the theme for 2026. The growing practice of retrofitting planters and other equipment with newer components creates a unique valuation challenge.

“A 2015 planter with 2025 row units isn’t a 2015 and it isn’t a 2025. It’s something in between, and the market hasn’t fully standardized how to price it,” Seymour says. “The opportunity and the risk are the same: If you understand exactly what was done, why, and how it performed, you can move that machine up the value scale. If you let it sit in a listing without that context, buyers assume the worst and keep scrolling.”

Autonomy Options Might Impact Resale Value

As farmers live in the here and now, progress is being made on autonomy in agriculture. Seymour says we could see more options to make machinery autonomous in the not-so-distant future.

With a stated goal of an autonomous farm by 2030, John Deere, for example, continues to make progress on autonomy kits. Those kits, as Seymour explains, will only work on certain model years. The same is true for Case IH and AGCO kits. That move could significantly influence future resale values for tractors.

Practical Strategies for a Transparent Used Equipment Market

Fri, 27 Feb 2026 20:47:32 GMT

In today’s world, those shopping for used equipment can compare listings across states in seconds. Auction results are public. The market is visible. For buyers, pricing is anchored to comparable evidence. Transparency is here to stay.

On a recent episode of the “Moving Iron” podcast , Aaron Fintel , wholesale manager for 21st Century Equipment, joins host Casey Seymour to share his boots-on-the-ground insights.

Q: As you talk to dealers and farmers across the country, what are you seeing in the market for those looking to buy or sell right now?

Fintel: Nothing is “runaway” by any stretch. We are seeing a lot of interest in 24-row planters, particularly late-model, low-acre units. In parts of the Midwest, dealers have struggled with 24-row inventory because so many people updated at once back in 2021, and those units finally hit the lots in 2023. For us, the “stack fold” remains the bread and butter. We’re also seeing the 8R tractor market firm up, and loader tractors in the 140- to 200-horsepower range are moving well.

I’d describe the current market as a full net — we are holding all the balls in the net; they aren’t spilling out yet, but that net is awfully heavy.

Q: If a farmer wants to sell a machine privately, rather than trading it, what is your best advice?

Fintel: The biggest thing is to “tell the story.” This is something only a private seller can truly do. Gather every shop ticket and service record you have. Tell the buyer where you bought it, why you chose it and what has been replaced — from the hydro pump to the winter greenlight inspections. Beyond the history, you have to do your pricing research. Don’t just pick a number because that’s what you want; look at auction values versus advertised prices and position yourself aggressively in between. Also, if you have a “unicorn” — a rare, low-hour machine such as an 8430 ILS Power Shift — don’t trade it. You are the only one who can maximize the value of a machine like that.

A few “work clothes” photos can be a powerful part of a private seller’s story. It shows the machine finishing up beans on May 10, proving it’s a working, reliable unit. Just make sure the trash is out. If you can show that you’re the guy who puts a piece of carpet over the floor mat or never even unfolded the buddy seat, you’re going to stand out in a sea of listings. At the end of the day, the buyer is trusting the evidence you provide.

In Machinery Pete’s absence on the latest episode, Seymour welcomes Tanner Ehmke, an economist with CoBank, to break down shifting acreage trends, with soybeans gaining favor due to stronger economics, renewable fuel demand, and global trade dynamics. Listen to the full conversation below, on Farm Journal TV or wherever you get your podcasts.

Sage Advice and Aging Fleets Drive Today’s Used Equipment Market

Wed, 25 Feb 2026 16:16:09 GMT

Back in the 1970s and 1980s, we were more free-range than today’s kids. Parental advice was much more sparing, and I think those fewer words stuck better.

My father, Jerry, a third-generation farm equipment dealer who is now 88, gave me some sage advice more than 36 years ago when I started out down my path of building the Machinery Pete business.

“Keep your head on a swivel,” he said.

Dad meant: Pay attention to what’s happening directly in front of you and around you – not only in your field but in every direction. He advised I read the daily newspaper’s business section. What tremendous life advice that turned out to be.

The other day I read in the business section about the age of vehicles on American roadways. According to an S&P Global study, the average age of vehicles in the U.S. hit 12.8 years old in 2025. A new record high.

Sound Familiar?

That’s just like the trend I’ve been seeing and documenting in American (and Canadian) farm fields. The average age of farmers’ equipment fleet is rapidly climbing. It makes sense, of course, given farmers, at least on the grain side, have not been ringing the bell in terms of new equipment purchases the past two, going on three, years.

Farmers have pivoted en masse to the used equipment market to find any updates they need for their fleets. From my seat, I think this is why I saw auction pricing spike higher in November and December 2025, even carrying over into early 2026.

The 2011 model 8260R with 1,743 hours sold for $176,000 in Sardinia, Ohio, the highest auction price of 2025 for an 8260R.

Here are a pair of good examples from Dec. 30, 2025 on John Deere 8260R tractors sold in Ohio and Iowa auctions:

A 2011 model 8260R with 1,743 hours sold for $176,000 in Sardinia, Ohio – the highest auction price all of 2025 on an 8260R.
That same day on an online farm auction in Osage, Iowa, a 2013 John Deere 8260R with 3,031 hours sold for $137,500. That was the highest auction price in all of 2025 on an 8260R with more than 3,000 hours.

As I covered auctions late in 2025 and early 2026, the chatter has been fascinating. A growing chorus of farmers suggested a collective rethinking of how much late-model equipment their operations have accumulated over the past 10 years or more. “Did dad have this much equipment on the farm at my age?” Most likely, no. The high price of new equipment was also at the center of these musings, along with inputs.

Watch Other Industries, Too
Here’s something else I’ve picked up from the newspaper’s business section. Minnesota company Sleep Number was a high-flying company making high tech, premium mattresses that sell for quite a lot of money. They’ve had 11 consecutive quarters of falling sales. Their solution is to introduce a new “ComfortMode” mattress option this year that still uses their high-quality materials without the tech, data or high price. It will be fascinating to see if the move pays.

Keeping your head on a swivel can work in many ways, including seeing how companies are paying attention to how their customers are feeling and what they’re saying.

Catch the latest Moving Iron podcast with Casey Seymour and Machinery Pete. They break down volatility in late-model high-horsepower tractor pricing, spotlighting recent auction swings on Case IH Steiger 470 Quadtracs. From a record $493,250 sale in early 2024 to a sharp drop just months later, dealer oversupply sent prices tumbling. But by mid-2025, the market began to stabilize — and recent auction results show signs of recovery.

The High-Stakes Math of Machinery Management

Fri, 16 Jan 2026 20:08:18 GMT

While the equipment industry has largely adjusted to the end of pandemic-era pricing, a new set of financial realities seems to be emerging. According to recent insights from the Moving Iron podcast and the latest year-end data from the Association of Equipment Manufacturers (AEM), the “new normal” isn’t just about lower values — it’s about a fundamental shift in how depreciation, supply cycles and machine types dictate the bottom line.

These key trends continue to alter the farm machinery industry as discussed by Casey Seymour and Machinery Pete in a recent Moving Iron podcast:

The “Same Math” is Getting More Expensive

One of the most significant changes in the current market is the sheer scale of capital involved in trading equipment. Historically, depreciation percentages have remained relatively consistent; however, because the base price of new machinery has increased, the dollar amount “lost” during a trade has doubled.

What used to be a $75,000 to $100,000 hit is now frequently a $150,000 to $250,000 hit. While the math remains the same, the actual cash impact on an operation is much more severe, forcing a more disciplined approach to management.

Data Confirms a Looming Late-Model Gap

A specific scarcity is forming in the 2-to-3-year-old equipment category, and the latest sales figures explain why. AEM’s December 2025 report confirms new equipment sales have taken a significant hit.

In December 2025, total U.S. tractor sales were down 15% versus the previous year, with only 14,581 units sold. The year-end totals paint an even starker picture for high-horsepower equipment:

100+ horsepower 2WD tractors: Down 23% for the year.
4WD tractors: Down a 42% for the year.
Combines: Annual sales totaled 3,579 units — 36% below 2024 levels.

Because fewer new machines were sold in 2024 and 2025, there are fewer late-model trades entering the secondary market. This supply vacuum is already starting to firm up values for clean, low-hour machines, shifting the industry’s primary “battleground” to 3-to-5-year-old iron, Seymour says.

Finding Stability in “Practical” Iron

As the market stabilizes, the wide price gaps between different sales channels — auctions, dealer lots and private sales — are disappearing. For equipment in the 6-to-10-year-old range, prices are converging. This means buyers can expect more consistency and fewer wild swings in pricing, as these machines find a stable floor across the board.

Segmenting Tractors Versus Combines

A critical takeaway for modern fleet management is the need to treat different machine types with distinct strategies. Seymour along with fellow machinery enthusiast Aaron Fintel suggests lumping all iron into one depreciation mindset is a mistake:

Combines and Choppers. Despite the 36% drop in new combine sales, these remain high-wear machines that demand disciplined replacement cycles. Falling behind on these rotations can lead to exponential increases in repair costs and downtime.
Tractors. These machines can generally be run longer with fewer efficiency penalties. Farmers are increasingly stretching tractor life to manage interest costs while staying more aggressive on harvester upgrades.

Auctions as the Market Anchor

The relationship between the auction block and the retail lot has returned to historical norms. Rather than retail prices setting the pace, auction values are now anchoring retail expectations. Currently, auctions are clearing within 75% to 80% of retail asking prices. This tight link suggests that retail premiums are no longer driven by speculation, but are strictly tied to the value of dealer services, warranties and risk mitigation.

Catch all things machinery on Machinery Pete’s Facebook and Farm Journal TV .

New Year, New Rules of Used Iron: Scarcity and the Rise of the Practical Machine

Fri, 09 Jan 2026 22:25:48 GMT

The last two months of the year are historically go-time for auctions. Machinery Pete says that trend rang true to close out 2025.

“It was semi-shocking what we saw in the auction market in November and December 2025. That stabilized market lifted and used values went up,” he says. “There’s a little more activity in January and early February, but early signs are pointing toward prices holding with what we saw at the end of 2025.”

When it comes to the rules of engagement, the current environment is defined by a lack of late-model inventory and a disciplined approach to buying.

As 2026 unfolds, Machinery Pete is particularly watching:

An increase in sales volume typically means prices fall … but that’s not the case right now.
When used auction values are lifting, it usually signals strength for new equipment sales. “This is the first time I’ve ever seen used values going up but new sales are crickets,” says Machinery Pete, referencing his 35-plus years in the machinery industry.

Here are the key trends shaping the used equipment landscape, as discussed by Machinery Pete and Casey Seymour in a recent Moving Iron podcast, which you can find on Farm Journal TV :

1. Scarcity Gap and Replacement Risk.
Used values are currently being propped up by a lack of supply at the top end. Machines with just a couple years of age remain elusive, and there isn’t a significant wave of late-model trades on the horizon to fill the void.

This scarcity is forcing buyers further down the age curve. As a result, clean, documented machines are the first to move and the last to see a price drop.

2. “Diamond-Shaped” Inventory Funnel.
The market is currently experiencing a “diamond-shaped funnel” in terms of inventory distribution. Used equipment for sale is heavily concentrated in the 3-to-5-year-old range, but there is very little late-model iron behind it and a dwindling supply of high-quality older machines to fall back on.

This concentration is forcing buyers into strict age and price buckets. The result? Widening price gaps where premiums are placed on specific hours and conditions rather than just the model year.

3. Auctions: The Great Truth-Teller.
While auction volumes are increasing — a move that typically softens prices — the market for “good iron” remains remarkably firm. Auctions continue to efficiently move clean, practical equipment, representing what buyers are willing to pay.

However, the auction block is also exposing the “laggards” faster than ever. If a machine’s condition is questionable or the specs don’t align with current demand, the market response is immediate and the discounts are steep.

4. Quality Over Commodity.
In the 6-to-10-year-old category, the days of treating machines like interchangeable commodities are over. Buyers are scrutinizing maintenance history, tire wear and overall presentation.

Two machines with identical hours can now see massive valuation spreads based on how they were cared for. “Just right” machines — those with documented service and high-quality wear items — continue to bring a premium, while anything with a “red flag” is punished by the market.

5. Redefining “High Hours.”
Economic pressures are forcing farmers to run equipment longer, effectively stretching trade cycles and flattening depreciation curves. This shift has reset the benchmark for what is considered “high hours.”

As farmers prioritize making the economics work over chasing the newest technology, demand has shifted toward durable, mid-aged machines. This trend places a higher premium on serviceability and uptime. Preventive maintenance and warranties are no longer seen as optional add-ons; they are now essential components of the machine’s total value.

Catch all things machinery on Machinery Pete’s Facebook and Farm Journal TV .

Used Farm Equipment Heating Up: Experts Predict Buying and Selling Explosion Ahead

Thu, 23 Oct 2025 18:01:58 GMT

Casey Seymour and Greg “Machinery Pete” Peterson are encouraged by what they are seeing from farmers-buyers and dealers in the used farm equipment market.

On the farmer side of the coin, Pete says they are using auction price data to understand market dynamics and find good deals for the equipment they need to run their operations. Once commodity prices rebound, he sees momentum building for an explosion of farmer buying activity on dealer lots and at auctions.

“It’s a powder keg sitting there waiting to go off, and that’s where if you’re able to through the rest of the year into ’26, be aggressive and call your dealer about any used equipment on lots you’re looking at updating,” Pete says. “It’s still a good time to do that.”

And on the dealer side of things, Seymour and Pete think increased dealer consolidation has imparted greater efficiency and bounce back upside into the network. There are currently 203 farm equipment dealers with five or more retail stores in North America, so these larger, professional dealer organizations can respond to market forces faster and more effectively today.

“A decade ago, when there were more owners with two, three, four stores, they kind of had to hold on and hope for better days, but it’s just so much more efficient right now,” says Pete.

Seymour and Pete also agree hay tools and livestock equipment — like utility loader tractors — are trending up. That’s because cattle ranchers have enjoyed a solid year profitwise, while row crop farmers are still stuck in a down cycle. And the gap between auction and dealer lot prices has tightened up, leading more farmers to explore both options before pulling the trigger on a buy.

“It’s the tale of two tapes there, but when I’m looking at how things are moving along, that space in between $50,000 to $150,000 and maybe up to $200,000, is really, really attractive [to buyers],” says Seymour. “And a lot of that has to do with, we’re at the bottom of the marketplace.”

Commodities Market Update

Rich Posson, host of the Critical Point podcast, joined Seymour to talk about the general state of the economy and Wall Street as “stagflation” continues to curtail growth in the economy.

“My model is willing to lean on the side of a growing GDP into 2027, but at the same time it’s suggesting this inflation has turned a corner — you can’t see it that way that much yet — but it looks like it’s ready to recover going into next year,” Posson says, adding he’s concerned inflation will actually get worse in 2026 before it goes down in 2027.

What’s Happening on the High Plains?

Dealer sales of new and used hay tools — like balers, windrowers and rakes — were a mixed bag this year, according to Aaron Fintel, used equipment specialist, 21st Century Equipment.

“We had a pretty good flow with new windrowers, and that second [year] never hit the lot and the third was sold right away,” Fintel says. “Balers have not been what I thought they would be this year — there’s been used 3x4s that we get in; those have sold pretty good. And new round balers were quiet this year.”

Fintel adds that forage choppers, typically a machinery segment he jokes an equipment salesman “runs away from” at the dealer level, were a pleasant surprise and sold strong all year long.

Head on over to YouTube to watch the full episode . Go ahead and give it a “Thumbs Up” and hit the “Subscribe” button to get each new episode as soon as it drops.

Your Next Read: Machinery Pete’s 5 Pointers For Equipment Auctions

Farm Equipment Auction Increase Coming Soon, Farmers Must Capitalize Before Prices Jump

Thu, 16 Oct 2025 15:17:56 GMT

In the used farm equipment auction world, 2024 saw an absolute avalanche of late-model equipment hit bidding sheets around the country. Today, supply of 1-to-3-year-old machines has pulled back dramatically.

“Huge drop offs this year on late-model used,” Machinery Pete says. “That’s why, in part, we’re seeing this huge firming up [in the market]. Of course, not much new is being sold. Dealers are working through inventory, of course they’d like those to be lower, but collectively, it’s night-and-day better than where it was.”

Pete and Casey Seymour are anticipating a very busy November and December on the auction circuit. The number of auctions to date is up 15% compared to last year already, but with late-model supplies relatively low, prices solidifying and demand from farmers still trending up, bidding is still very competitive.

“This is one of those years where everyone is waiting until the last possible minute to get things purchased and push things through,” Seymour says. “We’re still seeing combines being sold at this time of the year — that doesn’t make a whole lot of sense, right? It’s a last-minute thing.

Last-minute buying by farmers is not necessarily a negative development for equipment dealers. Pete thinks the wave of dealer consolidation over the past couple years has imparted more efficiency into the dealer network, so dealers are setup to handle an increase in volume.

“To me, the used farm equipment space is moving towards the used automotive space and becoming faster,” he adds. “Again, as a farmer I understand if you don’t like that, you lose one of your local dealers because they consolidate, but you have to be aware of these things because this short period to get to solidifying used values just hasn’t happened before like this.”

Pete says the lag in used equipment values that normally follows a market downturn — putting farmer-buyers in position to capitalize on lower-priced equipment — won’t be here for as long as when dad and grandpa were running the show. You should consider buying this winter versus waiting until late 2026 or 2027.

Commodities Update

Shawn Hackett, president and CEO, Hackett Financial Advisors, believes USDA overestimates to yield forecasts signal a corn price jump in January or February, but many farmers won’t be able to sell at the higher price if they didn’t have room to store harvested grain or erroneous yield projections led them to believe it was better to sell early.

“If we have a $4.80 or $5 corn price, but I already sold at $4 or $3.80 or whatever, now I’ve just locked myself into a financial bind,” he says, adding the current government downturn will levy yet another devastating blow to farmers’ bottom lines.

High Plains Update

Aaron Fintel, used equipment specialist, 21^st Century Equipment, joins Seymour for an in-depth breakdown of the latest Association of Equipment Manufacturers (AEM) U.S. tractor and combine sales report. You can view the latest data here as you follow along with the discussion.

Head on over to YouTube to watch the full episode. Go ahead and give it a “Thumbs Up” and hit the “Subscribe” button to get each new episodes as soon as it drops.

Your Next Read: Scratch Your Classic Iron Itch With 3 Old Tractors That Still Steal the Show

Farm Equipment Auctions Soaring Despite Stagnant Economy: Unpacking What's Next

Thu, 09 Oct 2025 16:42:58 GMT

Casey Seymour and Greg “Machinery Pete” Peterson see a used equipment market that has flipped from last year, when dealers pushed out a glut of late model, used equipment to auction.

Today, the number of 1–to-3-year-old high-horsepower tractors (300 hp and up) on the market is down 60% from last year, and late model combine listings are down 54%, according to Pete. Yet surprisingly, auction activity is up 14% from last year, too.

So, retail sales and the farm equipment market are in a prolonged slump, but auctions are still booming. It’s an odd juxtaposition, and dealers have to figure out how to navigate the uncertainty in the middle of the busy auction season.

“If I’m a dealer, and 2024 was painful and we’re having these huge losses, but we keep talking about [having] this footing – that’s why you’re not having a huge sale – but maybe [you’re] streaming out five tractors on this auction or two on that one,” Pete says. “That’s what I’m seeing. Whereas last year it was just, the spigot was open, and dealer items were everywhere.”

Seymour expected more dealer liquidation auctions in Q4, but dealer reps tell him they are not planning a big push of equipment to auction this year.

“[We] have this stagnant marketplace, where it’s not getting any better, and it’s not getting any worse,” he says. “You’re just kind of stuck in the middle. But to still see the auction activity that we’re seeing and the prices we’re seeing, it feels like we’re at the bottom.”

Pete agrees with that take, pointing to a growing trend of multi-dealer auctions, like the Rich & Rich Red Power Auction this weekend in North Carolina, as another sign the market is down. He is also seeing an increase in farm retirement auctions as farmers try to avoid losing equity.

Pete wonders if the rumored farmer aid package from the Trump administration will spark a dead-cat bounce on used machinery values and farmer buying activity?

“I don’t see that making its way to the equipment side. They’re going to shore up [debts] first, build back up and then probably [buy] inputs, but I guess it depends on if it’s taxable or not,” Seymour says.

Pete and Seymour tried to stick to farm equipment trends and what’s happening in the auction world, but the guys could not ignore the giant elephant in the room. They share thoughts on the impact of social media on political tensions in rural America, and why they think politicians should come down to an in-person auction and have some real conversations with real Americans.

The Rest of The Episode

Commodities analyst Shawn Hackett joins Seymour to break down the impact of the U.S. government shutdown on crop prices, and used equipment specialist Aaron Fintel closes out the episode with a chat about how livestock payments are driving more buying activity on loader tractors out west in his neck of the woods.

Head over to YouTube to watch the full episode. Please be sure to hit the “Thumbs Up” button to “Like” the video and click on the “Subscribe” button to get a notification when a new episode drops.

Your Next Read: Machinery Pete’s 5 Pointers For Equipment Auctions

A Dive Deep Into Used Equipment Market Forces and Tips to DIY Your Next Sale

Thu, 18 Sep 2025 18:23:55 GMT

Farmers are feeling the squeeze of low commodity prices and uncertainty in the market — and that’s especially true for soybean growers right now — yet good condition, pre-DEF used farm equipment is still in strong demand.

Whether you’re selling a row crop tractor down at the local auction, parking the old combine out by the road with a “For Sale” sign on it, or throwing up a listing on Facebook Marketplace, Casey Seymour and Greg “Machinery Pete” Peterson say there are best practices sellers need to use to present their machines in the best possible light.

Focus on taking a high quantity of clear images from a variety of angles, and show any defects with the machine. Make sure to wash and clean the machine as best as possible.

A detailed written description of the machine that includes its operating hours, how it was used on your farm and any maintenance history you can share is also recommended.

Use video (cell phone camera is fine) to give the online buyer a virtual “walk around” of the machine. Another tactic is recording a selfie video. Have the owner stand in front of the machine and speak directly to buyers about various upgrades and features on the machine and why they should consider buying it.

“You can throw a fishing lure, but if you don’t put any bait on the fricking hook, you’re not going to catch a fish,” says Pete.

Once pictures and videos are ready (that’s the bait on the hook), it’s time to cast the line into the water by setting a fair and realistic price. Use MachineryPete.com as well as other online auction platforms like Big Iron and Purple Wave to see how much the same make/models have sold for recently. Try to avoid emotion in your pricing decision, and do not say “Call for Price” in the listing. It sets off red flags that the machine will be overpriced.

“At the end of the day, there’s really three things that matter: how many pictures [and videos] do you have that tell a good story about the machine, what does your description look like and are you priced fairly in the market,” adds Seymour. “That’s it. Boom, boom, boom.”

Economics Update

Rich Posson, business cycles analyst, Critical Point & Ag Financial Strategies, correctly predicted the Federal Reserve lowering interest rates this week, and he thinks rates could bottom out early in 2026 and then rise again in 2027. Find out what he is seeing in the world of macro and microeconomics that will affect machinery sales.

The High Plains Perspective

Aaron Fintel, used equipment specialist, 21st Century Equipment, joined the podcast to unpack the for-sale-by-owner trend and how sellers who choose to go that route can make sure they don’t leave any cash on the table.

Head over to YouTube to watch the full episode . Please be sure to hit the “Thumbs Up” button to “Like” the video and click on the “Subscribe” button to get a notification when a new episode drops.

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Navigate The Used Farm Equipment Market With 5 Smart Buyer Hacks

Thu, 11 Sep 2025 16:40:38 GMT

If you’re looking to acquire a used machine in the next few months, this episode of the “Moving Iron” podcast is for you.

Greg “Machinery Pete” Peterson and Casey Seymour have over 50 years of combined experience in the farm equipment industry. Over the decades, they’ve witnessed plenty of good and bad from buyers in the auction and secondary markets.

Here are a handful of tips they recommend buyers heed as they hit auctions and dealer lots this fall and winter:

Keep a close eye on interest rates. In the recent past when interest rates were sub-3%, watching rate fluctuations wasn’t as critical as it is today with 7% and 8% interest rates. Those high rates add a lot of dollars to the final price tag you’ll end up paying out over the years when you finance a tractor or combine.
Have cash on hand? Consider a higher down payment. High interest rates have a depreciating effect on equity in any high-value asset. One way to combat that is to increase your down payment. While 20% is normally the standard, you might consider going higher to 30% to 35% of the total cost of the machine.
Use data from MachineryPete.com and trusted sources. Its fine to be emotional about your favorite college football program or your trusty old farm dog, but emotion in the buying process should be kept to a minimum. Use auction data on the specific model you’re targeting to avoid emotional overpays and stay within current market value.
Get a handle on current machinery supply levels. How many used machines are sitting on dealer lots can have an effect on auction pricing. It’s basic supply and demand economics: if there are a lot of used machines of a particular make and model available on the secondary market, you can probably find a good deal on the auction circuit, and vice versa. You can even do your own unofficial research and take a spin past your local equipment dealer to see what’s on the lot.
Know the trends. Q4 and Q1 of the new year are two time periods when you’re likely to find used equipment bargains because, other than in 2015 and last year, used machinery values often drop once fall harvest wraps up. It remains to be seen, however, if that trend continues.

“I think we’re going to start seeing the numbers fall off, which will push things forward a little bit, [just] supply and demand stuff,” Seymour says. “But between now and probably the first quarter of ’26, that’s going to be your best opportunity to buy a machine at a good value. I don’t think you’re going to be able to buy it any cheaper than right now.”

Commodities and Market Updates

Shawn Hackett, president and CEO of Hackett Financial Advisors, gave an update on recent movement within USDA’s corn and soybean yield projections and how that will affect crop futures. He sees an upper $4 corn market and upper $11 soybean market as appropriate projections moving forward.

And used equipment specialist Aaron Fintel, 21st Century Equipment, says he focuses on how much equity he will be able to realize and how marketable the used machine will be six months from now when making a purchase decision.

You can head on over to YouTube to watch the full episode . Please be sure to hit the “Thumbs Up” button to “Like” the video and click on the “Subscribe” button to get a notification when a new episode drops.

Auction Experts: Buy Used Farm Equipment Now Before Prices Jump, Machinery Specs Matter More Than Ever

Thu, 04 Sep 2025 16:53:14 GMT

With fall auction (and college football) season fully upon us, Moving Iron hosts Casey Seymour and Greg “Machinery Pete” Peterson are paying close attention to how the used equipment resale market shakes out over the next few months.

According to Pete, last year was just the second fall auction season in the past 22 years that saw an overall drop in used machine values, but there are signs this fall will reverse that trend. That would be a positive development for dealers and private sellers looking to get good value for their used equipment at auction.

“I mean, if we get a little positivity in the market, if that continues, it might point toward maybe a stronger end of the year,” Pete says.

Pete also thinks interested buyers need to be aggressive now, because we might have hit the bottom of the market this summer and prices are only going up from this point forward.

Two used machines sold at a Big Iron Auctions sale in Illinois this week; the results show there are still good deals floating around in the auction market, but it is anyone’s guess how long that lasts.

A 2014 John Deere S680 combine with 3,340 operating hours sold for $69,000. Last year, the average auction price for that same model/year combine was $80,185, and the year prior it was right at $99,000.

And a 2017 John Deere 8370R tractor with 4,499 engine hours on it sold for $127,850, which is well below the average auction price of $182,500.

Seymour and Pete are also keeping close tabs on the upcoming Sept. 12 USDA corn production report. A rise in corn futures following the release of that report could increase used equipment buying activity significantly.

“I think if we start to see more people coming to the table to buy stuff, then we’ll see some organic growth in prices,” Seymour says. “But it feels like there could be some volume at the end of the year that gets gobbled up because of this, and that could bleed over to that first quarter [of 2026].”

Commodities Analysis

Chip Nellinger, co-owner, Blue Reef Agri-Marketing, says fall harvest is now underway south of I-70, but a lack of moisture in the Eastern Corn Belt and increased crop disease pressure throughout the Midwest have corn and soybeans on separate paths.

“In the case of corn, you have yields coming down, but demand is phenomenal, arguably in some segments the best it’s ever been, you combine that with shrinking yields, and it can become somewhat explosive,” Nellinger says. “[It’s] kind of the opposite in beans; yields are probably coming down, but we’ve yet to see any movement on a Chinese trade deal.”

High Plains Update

Aaron Fintel, used equipment specialist, 21^st Century Equipment, joined Seymour to break down how machinery specs and different features drive resale values both regionally and nationally. Fintel says smart buyers must have a conversation with their dealer during the purchasing process so they know which machine specs used equipment buyers are looking for.

For example, combines with four-wheel drive and “Tri-Power” (power fold, power cast and power rear) are critical specs for high resale value. In the tractor segment, PTO shafts and high flow hydraulics are the current must-haves.

“With that third and fourth buyer paying more attention [to machine specs] it’s as vital as ever to get the right specs,” Fintel says. “Even if the guy has ordered the same thing for 30 years, there needs to be a discussion [with the dealer] all the time, because with how technology drives so much in ag right now, things change weekly.”

Head over to YouTube to watch the full episode. Hit the “Thumbs Up” button to “Like” the video and click on the “Subscribe” button to get a notification when a new episode drops.

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Top Tier Story Telling Can Push Your Equipment's Value Higher In A Roller Coaster Market

Thu, 28 Aug 2025 16:21:40 GMT

Volatile is the word that best sums up the current state of the farm equipment auction world.

The market currently sits at a “tipping point” as the busy auction season approaches, according to “Moving Iron” podcast hosts Casey Seymour and Machinery Pete. One of the surest signals of an unsteady market is the fact that used machines with comparable engine hours and specs are selling for significant price differences.

Over the last six months, three used, late-model Case IH Steiger 715 tractors sold at auction experienced a massive $48,000 price difference spread.

Machinery Pete advises dealers trying to stay at the top end of the market to focus on “marketing the living hell” out of machines — and even the auction sale itself. And always hammer home the human faces and origin stories behind each machine.

“You don’t want people leaning backward in their chair. You want them leaning in,” Pete says. “You have to get them on the front of their seat. Back of the seat? That’s when you’re $40K soft.”

And with fall harvest fast approaching — or already on in some areas — the guys note late-model combines like John Deere’s S Series have softened value-wise over the last week. At the same time, well-conditioned, older tractors, combines and sprayers (7 to 10 years old) are still drawing above-average bids.

With the market in such flux, its crucial buyers do a lot of homework before buying and use sites like MachineryPete.com to monitor sales data to know a good deal from a pricey albatross.

“It’s the ‘80s stagflation thing [again] where supply is coming down, but the price isn’t moving,” Seymour says. “You’re seeing $430,000 combines sold with 250 hours that are 12-year-old machines. The (supply) volume goes down. but the price stays the same — it doesn’t go up or down. And that is where the market is. It’s not based on anything other than available capital, interest rates and what commodity prices look like and futures buying.”

Exploring Other Industry Trends

Shawn Hackett, president and CEO of Hackett Financial Advisors, says widespread disease and insect pressure noted last week by Pro Farmer Crop Tour scouts across the Corn Belt will “take some of the top off” USDA yield estimates for corn and soybeans.

“Years like this, what you see from the road is not what you see in the middle of the field,” Hackett says. “My work says Pro Farmer is probably on the right track at 182.7, but anything 185 (bu/ac national average) or less — and the closer we get to under 182 — then we’ll get back into an upper $4 or lower $5 corn futures market.”

Aaron Fintel, used equipment specialist with 21^st Century Equipment, takes viewers on a used corn head market deep dive with Seymour.

He says dealers should know the current “sweet spot” for used corn heads sits somewhere between $50,000 and $100,000, and the most in-demand models are two–to- five-year-old John Deere C Series heads. Anything over $125,000, he adds, is a tough sell.

Head over to YouTube to watch the full episode. Hit the “Thumbs Up” button to “Like” the video and click on the “Subscribe” button to get a notification when a new episode drops.

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Will 2027 Be The Big Bounce Back For New Equipment Sales?

Thu, 21 Aug 2025 14:17:32 GMT

With new farm equipment sales tracking downward as we venture into the used equipment auction busy season, more farmers are looking to late-model used machines. High interest rates for financing new equipment, as well as low commodity prices, are also factors driving interest in used machines.

Considering basic supply and demand principles, it makes sense Casey Seymour and Machinery Pete are seeing less late-model equipment inventory at auction than last year, and what is available now is starting to increase in price. They discuss the trend on a recent episode of the “Moving Iron” podcast.

“I mean, [John] Deere just laid off more people last week, and that was not unexpected, because you have one, now two, and we’re drifting into three years of lower sales of new [equipment]. There’s just less one-, two- and three-year-old units available — whether on the [dealer] lot, at auction or for sale privately,” Pete says.

(BrockAuction.com)

Pete says a recent auction transaction in western Iowa illustrates his point: a 2022 New Holland CR780 with 400 sep hours (pictured above) sold for $195,700. That’s in the ballpark of 54% of the total cost of a brand new CR7. With commodity prices where they are, Pete thought he would see a lower price come in on that machine, but it was only $7,000 off the all-time average auction price.

Seymour thinks dealers will start to move more equipment off their lots to the auction market if interest rates don’t go down, considering there are real, direct costs associated with machines sitting on the lot.

But even if Federal Reserve chair Jerome Powell drops interest rates considerably — as President Donald Trump has been asking for months — Pete isn’t convinced farmers will rush to buy new equipment.

“We were already pretty iron-heavy going into this downturn. Farmers have a lot of iron,” Pete explains. “I think we could drift through ‘26 in the same belt tightening [mode], and then maybe we get into ‘27, and now its four years [into the downturn]. Does that become the point where we see more [buying] activity out of [farmer] need?”

Additional Industry Trends

Shawn Hackett, president and CEO, Hackett Financial, is spending his week closely following the results of Farm Journal’s Pro Farmer Crop Tour.

He doesn’t expect a big increase in projected corn yields coming out of the eastern Corn Belt, but he does anticipate some “really, really big numbers” from the western Iowa and eastern Nebraska portions of the tour.

“I think they’re going to come up with a crop yield somewhere around 185 to 186 (average bu./acre), and I think that is a more rational starting place for the crop based on what was planted,” Hackett says. “While that’s not going to create a problem for corn supplies anytime soon, it would move the carryout bushels and would more than justify a mid-$4 (corn) market.”

Aaron Fintel, used equipment specialist with 21^st Century Equipment and CEO of High Plains Wholesale, says the two biggest needle movers in his area are two late-model John Deere machines: the 8RX tractor and S700 series combines.

Used forage harvesters are also starting to demand large dairy farmer and custom harvester businesses’ attention, he adds.

“It’s a market that used to be really wild and crazy in August and April. If you’re in the chopper business, it’s now become a more open market throughout the year — versus just those two months of activity,” Fintel says.

Head over to YouTube to watch the full episode . Hit the “Thumbs Up” button to “Like” the video and click on the “Subscribe” button to get a notification when a new episode drops.

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Why Used Specialty Machinery Is Trending Right Now

Thu, 14 Aug 2025 16:56:35 GMT

Right now is the time to sell used hay equipment and versatile loader tractors at auction. That’s because farmer interest in both of those machine segments has likely hit its ceiling for the year, according to a recent episode of the “Moving Iron” podcast.

Another trend in the market is spiking farmer demand for economically priced machines.

“You’re looking at that $50,000 to $150,000 [range], that’s like the peak thing right now,” says Casey Seymour, host of the podcast. ”And you know, if you look at the cattle side of the business, there’s a lot of cash out there right now and a lot of things moving.”

With fall auction season right around the corner, Machinery Pete thinks dealers should monitor the volume of units that flow into the auction world, because he thinks the used market can go either way at this point.

“I wonder if there’s going to be some dealers that wish they would have sold at the end of the first quarter, or early second quarter,” Pete says. “We’ll see how the market holds up for the rest of the summer here.”

Seymour expects we’ll see a lot of auctions booked for November and December, and Pete agrees.

“Q4 has been an optimal time since 2003 or 2004 basically, with the Bush tax cuts that happened so long ago,” Pete says. “Last year was only the second year I saw a dip in the fourth quarter, and the only reason it dipped was sheer volume. That’s why I still think it pays to steer clear of when everybody else is selling.”

And all of you classic tractor fans out there will just love this fun little story that Machinery Pete shared on Facebook:

The rest of the episode

Rich Posson, business cycles analyst, Critical Point, joins the podcast to talk about implications of a recent Consumer Price Index (CPI) inflation report and Federal Reserve meeting.

“The CPI came out at 2.7% this morning annualized, and that was shocking to Wall Street. First they bought and then sold, and now they’re back buying today under the idea that it’s lower than what we thought – therefore lower interest rates are coming,” he says. “But that 2.7% was actually unchanged (from last month). Years ago I learned from watching USDA data that when the government gives you an unchanged number, it basically means they don’t know what to do next.”

Aaron Fintel, used equipment specialist, 21^st Century Equipment, also joins this week to talk about how unique, specialty used farm equipment, like sugar beet harvesters, dry bean Pickett headers and hay steamers, are all “right on the cusp” of taking off on the High Plains.

“My biggest thing with keeping machinery moving is ‘Lot Rot’. On the sugar beet equipment, that’s the beauty – it’s nonexistent,” Fintel says. “In that specialty equipment (market) it’s pretty much ‘We’re upgrading to get bigger.’ or ‘We’re upgrading because we have to.’ That’s a world where a bigger percentage of your trade-ins are past their (useful) life.”

Head over to YouTube to watch the full episode. Hit the “Thumbs Up” button to “Like” the video and click on the “Subscribe” button to get a notification when a new episode drops.

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Why Used, Late-Model Equipment Is Surprisingly Strong, and Get Ready for a Packed Fall Auction Season

Thu, 07 Aug 2025 15:08:43 GMT

Casey Seymour and Machinery Pete say late-model, low-hour equipment values are stabilizing and even trending up as we get close to kicking off the used equipment auction busy season.

Pete says a few recent auction transactions display the value “firmness” bubbling up on like-new machines:

(Machinery Pete Facebook)

At a dealer auction in North Dakota this week, a 2023 New Holland T8.410 tractor (521 hours) went for $237,000. That’s a record-high auction price, according to MachineryPete.com historical data.

(Machinery Pete Facebook)

At the same North Dakota auction, a 2023 New Holland L334 skid steer with only 227 hours sold for $49,000. That’s another record-high auction price.

At a Steffes Auction Group sale in West Fargo, N.D., a 2023 John Deere 9RX 640 tractor sold for $477,278. The average auction price for that machine sits at $488,250. Taking into account low commodity prices, Pete says that’s not a bad price given the uncertainty in the farm economy.

“There’s different ways to see things,” Pete says. “That average auction price has remained flat, but if you look back two years the average auction price was about $597,000. So last year was the humongous drop down to $488,250, and then so far this year its kind of holding.”

Besides tracking used equipment values, Pete likes to look at land values and what he calls “the toy factor,” which are sales of vintage, unique show tractors that farmers love to collect.

Meanwhile, Seymour is anticipating a fall auction season with “big activity” as usual, but he thinks it will look a little different once we get into the thick of it.

“You’re going to see the same level of consignment dealership sale activity, but it’s going to be heavily mixed in with farm and retirement auctions,” he says.

Seymour and Peterson agree auction companies must continue to step their marketing and social media games up. There will be so many auctions taking place this fall that grabbing buyer attention will be absolutely critical for auctioneers.

“I guess that’s what keeps us on our toes, things don’t stay the same, they keep changing, even in our business,” Pete adds. “I mean, yeah, bring it on. That’s always been my — I try to keep that mindset despite being the gray-haired, grumpy old guy on the front porch.”

The Rest of the Episode

Aaron Fintel, used equipment specialist with 21^st Century Equipment and founder of High Plains Wholesale, tells Seymour many farmers put off upgrading the combine for the last two years. Now it seems like everyone in his area is looking for a used combine.

“We’re getting to that point where guys haven’t done anything, and now they kind of have to,” Fintel says. “Combines are hot; combines $450K-plus are an absolute iceberg waiting for a big white boat to hit them. But $450K and under? You’re getting some action.”

He also is seeing more farmers buying based on model year over engine hours, which is a shift in buying behavior.

Shawn Hackett, president and CEO, Hackett Financial, gives an update on the price of corn, which is down in the sub-$4 range currently. He says we are in the middle of the third rainiest growing season over the past 50 years.

“You would think that we would get record yields and a record crop, and that’s what everyone is going with, but I wish it were that simple,” Hackett says. “It’s not that simple.”

And John Deere’s Bergen Nelson, go-to market manager – harvesting equipment, shared what he is seeing in the world of harvesting machinery and technology.

Head over to YouTube to watch the full episode. Hit the “Thumbs Up” button to “Like” the video and click on the “Subscribe” button to get a notification when a new episode drops.

Your Next Read: Used Equipment Values Have Stabilized in 2025, But the Surprising Trend Might Not Last

Moving Iron: Used Farm Equipment Auction Activity Heats Up, Inventory Shifts Drive Machine Values Higher

Thu, 31 Jul 2025 17:37:14 GMT

An uptick in used farm equipment auction activity recently leveled the playing field for buyers, but now auction prices are swinging the other way and stabilizing. Moving forward, dealers should be able to command solid value for low-hour, well-conditioned equipment.

The market shift is most likely the result of mounting uncertainty in the farm economy, says Casey Seymour. Corn prices are down 16¢ off the summer high ($4.06) and agronomic problems like tight tassel wrap, derecho-level wind storms in the Upper Midwest this week , and pollination issues are clouding corn price projections for the time being.

Related: Insights From Seed Companies on Tackling Tassel Wrap Challenges

Not to mention, used machinery inventories are down from last year, as well.

“There’s definitely been a change in the feel of how things are looking,” Seymour says. “Go out and check how many $700,000 combines are on the market at this time last year compared to how many are out there today. It’s like 90% of them aren’t there anymore.”

With less late-model, used equipment inventory out on the auction market overall, Machinery Pete believes prices are stabilizing and dealers might be able to regain footing over the next few months. A Merit Auctions online dealer consignment sale last Wednesday is a prime example.

“They sold a ’22 model (John Deere) S780, 428 engine hours that went for $342,500. For comparison the average auction price on a ‘22 model S780 this year was just over $299,000, and the highest (price) I’d seen this year was $350,000,” Pete says. “And on the red side, they had a (Case IH) ’22 model 8250 – a few more hours on it, 681 engine – that did $282,500. [The] average auction price on an 8250 this year was $263,000 and change.”

“You start seeing people at the auction market look at the dealer side and say: ‘Well, maybe that’s not such a bad deal after all,’ and we’re seeing that now,” Seymour says.

High Plains Region and Commodities Updates

Aaron Fintel, used equipment specialist with 21^st Century Equipment and CEO of High Plains Wholesale, says we’re in the preharvest ramp-up period in the used equipment buying cycle. He says he is getting the most calls from buyers on used combines right now.

And Chip Nellinger, co-owner, Blue Reef Agri-Marketing, provides an update on the row crop commodities markets. He says heavy rains have increased yield projections and driven future prices lower, but he is also seeing a nice uptick in demand for corn exports and ethanol. Nellinger thinks the market is still sorting through tight tassel wrap and how that problem will impact prices heading into fall harvest.

Head over to YouTube to watch the full episode , and give it a “thumbs up” and hit the “subscribe” button to get every Moving Iron episode as soon as it drops.

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Why Used Late-Model Equipment, Pre-DEF Machines, and Harvest Equipment Is Trending Right Now

Thu, 24 Jul 2025 21:57:27 GMT

Moving Iron hosts Casey Seymour and Greg “Machinery Pete” Peterson think we’ll see a wave of farm retirement and estate auctions across the back half of 2025.

And the two used equipment auction experts project farmers will buy more late-model (1- or 2-year-old) tractors and combines at auction in the months ahead. MachineryPete.com auction data shows good condition, used, late-model machines are “definitely solidifying” in value, Pete says.

“Even loader tractors, three or four months ago we talked about the stagnation of the loader tractor market and how we were surprised by that,” Seymour adds. “Now we’re starting to see that market break loose and move forward. We’re seeing those 130 to 170 horsepower loader tractors really start to peak up.”

(BigIron Auctions)

Machinery Pete says another segment of farm equipment that “has ramped up 5x here in the last 18 months” is anything pre-DEF. A recent Big Iron Auctions online sale moved a 2008 John Deere 7730 tractor with 16,161 hours on it (shown above) for $150,250. It is the fourth-highest price ever recorded at auction for that specific machine.

Pete is also seeing values firm up on used grain carts, trailers and augers as fall harvest season draws closer.

“Considering where profit levels are for grain farmers, I would say it’s honestly a little bit higher than I would have guessed coming off Q4 2024,” Pete says.

Looking ahead, Seymour and Pete will be keeping a close eye on the upcoming Kerr Auctions Aug. 14 export sale; the guys are hoping to get a read on the used farm equipment export business. They are also teaming up for a live Q&A at Randy Dowdy and David Hula’s Yield Academy 2025 event in Rochester, Minn. , on Aug. 21.

Check out Machinery Pete’s video preview:

The rest of the episode

Aaron Fintel, used equipment specialist, 21^st Century Equipment, joined Seymour to chat about how auction values are changing on used combines and how that segment has changed from last year. Used combine inventories have experienced a seasonal uptick, while tractors, sprayers and planters have cooled off a bit.

“I can remember being a kid there would always be that harvest sale, there wasn’t the big end-of-year splash or the mega March pre-plant auctions like there are now,” Fintel says. “Even back then there was the ‘Let’s wax that old UFT grain cart and haul her down to the lot and let’s see if we can break even.’ That’s always been a thing.”

Shawn Hackett, Hackett Financial, provided an update on summer weather patterns and how the heat wave in the Midwest could affect commodity prices and yields heading into fall harvest.

“My expectation is (USDA) is going to raise (corn) yields to 183.5 bu. per acre here in August and by the time we get to October they are probably going to move those yields down to 180-ish or 178.5 bu. per acre,” Hackett says. “Still a very good crop, but the difference between 183.5 and 178.5 is the difference between projecting 2 billion bushel carryout and 1.4 billion bushel carryout. And the difference between those two measures is the difference between low $4 corn and upper $4 corn.”

Head over to YouTube to watch this week’s full Moving Iron Podcast episode. Be sure to hit the “Thumbs Up” button to give it a “Like” and hit the “Subscribe” button to get every new episode right to your mobile device as soon as it drops each week.

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From Skyfall to Stable Growth: Why Used Equipment Sales Are Poised for a Breakout Into 2026

Fri, 18 Jul 2025 15:00:33 GMT

Recent used farm equipment auction activity shows a market gaining momentum and stability with harvest and the fall auction busy season just over the horizon.

Machinery Pete witnessed that renewed energy and enthusiasm from farmer-buyers in person at Freddie Berger’s farm estate auction on July 14 in Mandan, N.D. The sale featured a huge fleet of used machinery — more than 10 Bobcat skid steers, 12 UTVs, a row of wheel loaders and feed trucks — and there were strong prices across the board.

Yet, it was a gently-used hauler truck (pictured below) that has stuck in Pete’s craw a few days later.

(Ulmer Auctions. )

“The one that got me was a 2023 Peterbilt 537 truck with a Sioux Automation 4600 box — only had about 2,300 miles on it, so it was going to be high — it came in at $181,475,” Pete says. “Pretty much across the board everything was strong: the hay equipment, loader tractors, all of it.”

Speaking of loader tractors, those machines have been red-hot on the auction circuit, Machinery Pete adds.

(Machinery Pete Facebook)

At a sale in Rogers, Ohio, last week, a pair of low-hour John Deere 6M loader tractors also caught his attention. A 2023 6120M with 65 hours (pictured above) sold for $122,500, beating the previous auction record high for that model by $2,500.

(Machinery Pete Facebook)

A 2023 6140M with 252 hours and no loader sold for $112,500. Machinery Pete says that’s the second-highest auction price all time for that year/model.

Taking stock of used machine supplies across the auction market, Casey Seymour is seeing “tractors trend line down, planters trend line down and sprayers trend line down.” At the same time he is also seeing “combines peak up; we kind of expect that because a lot of those machines are coming on for fall harvest. But for the most part it feels like inventory is contracting.”

One market force that has taken Seymour and Pete somewhat by surprise is the ongoing downturn in used high horsepower row crop tractor demand. Normally, the guys expect those machines to be moving steadily right now while utility tractor activity settles down, but that trend has flipped.

In the months ahead, Machinery Pete says a handful of ag lenders and industry insiders he’s met with are bracing for a large wave of farm estate auctions. It’s an unfortunate but direct result of the low profitability, high operating expense environment grain farmers have been mired in for two years now, he admits.

“I think that last quarter of the year, and especially in those last couple weeks in November, I really feel like we’re going to start seeing a lot of positive (auction) movement that will carry over into ’26,” Seymour says. “Now, that said, we’re going to need to see some movement on commodity prices.”

You can head over to YouTube to watch the full episode of Moving Iron. Go ahead and give it a “thumbs up” if you like the show and hit the “Subscribe” button with the bell next to it so you get every new episode as soon as it drops.

Why Now is the Time To Move Used Construction Iron in the Farm Equipment Auction World

Thu, 10 Jul 2025 13:51:24 GMT

Casey Seymour and Greg “Machinery Pete” Peterson agree now is the time when many farmers spend time shopping for what they call auxiliary machinery — things like wheel loaders, skid steers, track loaders and other compact and heavy utility equipment types.

“Skid steers are one of the first things that pop up when in my mind when I start thinking about that right now,” says Seymour, adding there is almost always a healthy supply of the versatile material movers in the used market.

Machinery Pete recalls skid steer values falling a bit last year due to that high supply, but this year is a different story. Values are trending up on used because, once again, the cost of a brand-new skid steer is high.

(Machinery Pete Facebook)

“Pifer’s Auction had a sale (recently), and I think it was a 2024 Deere 335 P-Tier with 275 hours on it, give or take, and I thought that sold really well at $94,000 hard cash,” Pete says.

Another notable transaction came out of Illinois, Pete recalls. At a Joel Everett Tractors & Auction sale, a 2009 John Deere 325 with under 300 hours sold for $36,000, which was well over the previous auction high of $28,500.

“It was interesting. When they got to the skid steer they paused and said, ‘Hey, folks, this 2009 model is loaded with every single option,’ which is unusual for a 16-year-old model,” Pete adds. “But again, it was palpable how many people wanted that thing, and you know, $36,000 is a big check — but for hardly any hours on it and what you’re going to pay for a new one?”

Pete and Seymour also discuss the firming up they are seeing with used values on some of the large construction equipment seen around the farm, including excavators, wheel loaders and bulldozers.

How Kerr Auctions is Unlocking Export Markets

Alex Kerr of Kerr Auctions joined the guys next to discuss how his auction house is carving out space in the export market.

Kerr says the company has capitalized on growing equipment demand overseas by creating specialized sales that cater to export buyers. These sales often feature equipment that may not have strong domestic buyer interest due to age or condition.

Kerr has established partnerships to help overseas buyers handle logistics and shipping, and the company made the decision to eliminate buyer penalties for high bidders. Both decisions demonstrate a level of transparency and trust that helps put buyer minds at ease, he thinks.

“Specialized sales do well,” Kerr says. “We got to thinking that the export buyers, they hate some of the auction things they deal with. They don’t speak the language; you’ve got to talk to them on WhatsApp, or they have an online only presence.”

Kerr Auction’s next big export-focused Inaugural Farmer/Dealer Consignment Sale is set for Aug. 14. Check out all the details here.

The Rest of the Episode

Shawn Hackett, president and CEO of Hackett Financial, joined the show for an update on where commodity markets sit today and row crop futures prices. Glen Birnbaum, principal with Sikich, came on to talk machine depreciation rates and upcoming changes to tax law.

And Aaron Fintel, used equipment specialist with 21st Century Equipment, gave his view on moving used compact construction equipment out on the western plains.

Head over to YouTube to watch the full episode , and give it a “Thumbs Up” and hit the “Subscribe” button to get every Moving Iron episode as soon as it drops.

Machinery Pete and Casey Seymour Talk Used UTVs, Auction Bidding Styles and Fishing

Thu, 03 Jul 2025 17:21:17 GMT

While the big iron is undoubtedly the star of the show at used farm equipment auctions, there are often miscellaneous-but-still-useful machines that make their way onto the auction docket.

Utility Task Vehicles (UTVs), also known as side-by-sides, four-wheelers, etc., are one such machine that you’ll encounter, because farmers and ranchers use these versatile, lightweight Swiss Army knives for a wide range of tasks around the farm.

And even if you’re not farming, if you’re into outdoor activities like hunting, fishing or trail riding, UTVs are a great tool to get into some spaces and places where a full-size pickup truck can’t venture.

Machinery Pete recalls a pair of UTV transactions that stick out from his recent travels around the Midwest covering farm equipment auctions.

(Machinery Pete Facebook)

About six weeks ago, he says, a still-new-in-the-box 1984 Honda 250R ATC in New York sold for $200,000. And another Honda from the mid-80s, this one a 200 Series three-wheeler (shown above), sold for $14,500.

Besides Honda, Kawasaki, and John Deere with its iconic Gator series, Polaris is another manufacturer that Pete says is gaining traction selling four-wheelers to farmers and ranchers.

And if you consider yourself a bit of a UTV aficionado, you might be pleasantly surprised to learn MachineryPete.com tracks sales data and search traffic on used UTVs.

Pete says that data shows back in 2023, there was a big oversupply of the machines on the used market, but today that trend has flipped, and it’s actually a good time to sell a used side-by-side.

“One of the cool things about a side-by-side is that they have a big (depreciation) hit up front, but their mid-range life, that middle of the road dollar value that you see, it tends to linger a lot more than I think other pieces of equipment do,” adds Casey Seymour.

Pete has looked at the data on UTV sales and he’s found that sales and values at auction tend to spike when times are good in agriculture.

“If I were one of those ( UTV) companies, I would watch the price of corn and beans, and as soon as there’s a jump man, shift your ad spend into the ag space,” he says. “That’s what I would do, that’s my Machinery Pete recommendation.”

Our hosts then pivoted to a little fun and spent some time talking about anything other than used equipment values. If you’re into fishing, all of the different styles of bidding that farmers exhibit at auctions, or just having a laugh with two good ol’ boys like Seymour and Machinery Pete, you don’t want to skip the opening segment this week.

The Rest of the Episode
Economic analyst Rich Posson, RFPCO Group, gave an update on the state of the economy. He expects inflation to continue to trend higher going into 2026. Right now, we’re at about a 2.5% inflation rate compared to prices last year, Posson says.

Used equipment specialist Aaron Fintel, 21^st Century Equipment, took the last segment to take a deep dive alongside Seymour into the used farm equipment export market. The guys agree that one of the largest export markets for American machines, Ukraine, is down at the moment due to the conflict with Russia, while China is starting to come on strong as a buyer.

Head on over to YouTube to watch the full episode , and please give it a “Thumbs Up” and hit the “Subscribe” button to get new episodes as soon as they drop.

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How Farmer Stories and 4WD Row Crop Tractors Push Used Equipment Values Higher

Thu, 26 Jun 2025 18:47:13 GMT

With July right around the corner, there are several trends playing out in the used farm equipment market.

For one, farmers are starting to buy four-wheel drive row crop tractors for fall tillage season. And as hosts Casey Seymour and Greg “Machinery Pete” Peterson always say, high-horsepower row crop tractors are the bell weather for the overall health of the used market. If those workhorses are moving the needle higher value-wise, combines, sprayers and implements will probably soon see an uptick in value as well.

(Everitt Tractors)

Over the weekend, a 2016 Gold Key John Deere four-wheel drive 9420R “bareback” tractor (pictured above) with only 120 hours sold for $320,000 at the Harry and Lola Blackburn farm auction in Iowa. Machinery Pete says only a handful of those tractors have sold over the $300,000 mark, so it’s a good sign row crop tractor values are strengthening.

“The four-wheel drives eased off last year on auction pricing, but I would say that the pre-DEF ones that are in good condition, we’ll see some of those come through and put up some pretty eye-opening numbers — not quite as high as they were back in ’21 or ’22, but pretty solid,” Pete says.

Another market trend to watch going forward, according to Seymour, is the ratio of farm auctions to consignment sales. While an influx of farms selling off their equipment is generally a harbinger of poor farm balance sheets across the country, these sales can also have a lifting effect on average auction prices.

“It’s not good for anybody if they have to sell under distress, but its good for the marketplace because those farm auctions typically bring more money than a consignment sale,” Seymour says.

And finally, Pete and Seymour remind dealers and auction companies that telling the back stories behind the former farmer-owner and the used equipment you’re trying to move is just as powerful, and sometimes even more motivating for potential buyers, than hard and fast machinery specs.

“The reason auctions are still viable is they are emotional events and we’re humans,” Pete adds. “You can try not to be emotional and say, ‘I’m not going over $100K,’ and I tip my hat to people who can stick to that. But at the same time, when other farmers see you being real talking about your stuff, it’s like you’re grabbing them by the collar and pulling them through the screen, and it makes that person more likely to click on that thing two more times.”

The Rest of the Story
Chip Nellinger, owner of Blue Reef AgriMarketing, gave an update on happenings within the ag commodities trading world. He examines the impact of the U.S.-Israel-Iran conflict on global oil prices and carryover into crop futures.

Eric Halfman, go-to-market manager for riding lawn equipment & Gator UTVs at John Deere, came on to talk about the influx of precision ag technology that John Deere has bolted onto new Gators. Farmers can accurately boundary map fields with Gator UTVs in the Operations Center platform while saving money on fuel. AutoTrac guidance and more ag tech options are also available on 2025 Model Year Gator UTVs.

Aaron Fintel, used equipment specialist with 21st Century Equipment, took on the final segment to hit on the four-wheel drive tractor trend from his viewpoint on the Western Plains.

Head over to YouTube.com to watch the full episode. Hit the “Thumbs Up” button to like the video and the “Subscribe” button to get a notification every week when a new episode drops.

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Farmers Are in the Buying Mindset for Used Equipment

Thu, 19 Jun 2025 15:10:24 GMT

Used machinery values are still picking up steam while sales of new equipment are spiraling downward. May’s AEM U.S. Ag Tractor and Combine Sales flash report shows new 4WD tractor sales down almost 40% compared with May 2024, and combine sales are down 21%.

Yet farmer buying sentiment when it comes to equipment is more positive now than it was at this time last year, and that’s helping used equipment auctioneers and dealers get solid returns.

“The pricing we’re seeing is solid,” Machinery Pete says. “And if you drift into anything with a little age on it, that’s in good condition, the pricing is actually almost going up.”

He says a pair of 2020 John Deere 9RX tractors that sold this week (pictured below) show farmers are getting back into the buying mindset.

(Big Iron Auctions)

“One 9620 RX had 1,105 hours, and it brought $348,000. The other 9620 RX with 1,623 hours sold for $341,750,” Pete says. The average auction price for that model is only down 6% from last year, which Machinery Pete anticipated would be lower.

Casey Seymour hopes the rise in used values is a sign that better times for dealers and machinery manufacturers are right around the corner.

“We’re coming out of a downturn, and we’re leveling out,” he says. “It’s also that time of the year where we’re setting the tone, we’re setting up for what the rest of year looks like. What it feels like now is in line with what we’ve talked about here so far this year. So, fingers crossed.”

When it comes auction format, Machinery Pete and Seymour continue to see a shift in the market to more online auctions. They agree the lines are starting to blur between dealer consignment, retirement auctions and estate sales. That makes building trust with farmers and buyers crucial.

“I think these days, even more so than ever, it’s super important for auctioneers and the dealers to just be super, super upfront and honest,” Pete says.

How well is hay equipment selling?

Out on the western Plains, hay season is right around the corner.

Aaron Fintel, CEO of High Plains Wholesale and used equipment specialist, 21^st Century Equipment, says he isn’t seeing a big push on baling equipment in his area just yet, but it’s coming soon.

As with most farm machinery types, new baler prices are elevated, so Fintel is comfortable predicting a wave of used buying activity. Once producers start firing up those balers and something inevitably breaks that isn’t an easy, cheap fix, that’s another driving force for upgrades. That’s often how a lot of hay operations will end up running multiple balers at the same time, Fintel adds.

“Once you fall under that $15K mark on balers, I mean, there’s just hundreds of them,” he says. “You get up to the middle of the alphabet and up level of buyer, and those guys go ‘We gotta go get that baler. Let’s roll.’”

Hay rakes are another story completely, Seymour adds. It’s often an impulse buy, and buyer beware when picking up a used one.

“My running joke with what that kind of stuff is, if someone’s trading one of those in, it’s used up or they’ve bounced it off of the bridge for the eighth time,” he jokes.

Swathers are another machine that farmers will run until the wheels fall off before they decide to upgrade. Basically, if you’re a dealer looking to move some used hay equipment, keep your expectations in check, because the buying cycle is nothing like it is in the row crop world.

“it’s just so wild how all the different parts of hay land operate compared to in the crop world,” Fintel adds.

Watch the full episode of “Moving Iron Podcast” on YouTube and hit the “Like” and “Subscribe” buttons to get new episodes as soon as they are released.

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Gear Up Time: Why You Should Buy Used Tractors and Combines Now

Thu, 12 Jun 2025 16:30:33 GMT

With corn planting at 97% complete and soybeans at 90%, Casey Seymour and Machinery Pete are seeing used equipment auction activity pick back up.

Analyzing buying activity is vital to understanding the market as a whole, but Pete also carefully studies dealer inventory levels, which he says are “in a normal cycle — we’re kind of moving things forward.”

“Another thing that’s pointing to things turning around is the Purdue (University) survey on farmer sentiment,” Seymour adds. “It was actually up; the rating was quite high compared to where it’s been in the past. One of the things they talk about is farmers are going to upgrade; they are going to go out and spend money on equipment.”

This 1997 CaseIH 8920 (2,819 hours) recently sold for $89,000 in Malcolm, Iowa, in a Steffes Group retirement auction. Its the sixth highest auction price for a used 8920. Pete says its a good example that shows “when the item is right, the dollars are there.”

(Machinery Pete Facebook)

Pete agrees there’s an upward trend to the market right now, most notably on combines, which he views as a market health measuring stick (along with high horsepower tractors). Used John Deere X9 combines, for example, carry an average auction price today of $522,400; last year at this time it was well under $500,000.

Seymour and Pete are also forecasting what equipment dealers and farmers can expect from the market this fall and into 2026. Pete doesn’t think a big push of late-model machines to the auction circuit is likely.

“The rest of ‘25, particularly this summer, could be a tremendous (buying) opportunity,” he says. “Whatever your need is, whether it’s that tractor or that combine or a planter, you should be able to get it at a good price.”

The guys advise farmers to sit down and put together a purchasing plan for any foreseeable equipment needs. They think prices on new and used equipment will only continue to tick higher, so buying what you need as soon as possible looks to be the right play.

Farmer Purchasing Trends Out West
Aaron Fintel, used equipment specialist, 21^st Century Equipment, joins Seymour to talk about used equipment buying activity. 21^st Century Equipment is a John Deere dealership with 25 retail location across Colorado, Nebraska and Wyoming.

“The used buyer is waking up and paying attention. In the last five to 10 years it became a trend where you sell some used planters in July,” Fintel says. “The cool thing there is you’re buying it so far out, you just got done with yours and you know exactly what you want to do, it’s very fresh in your mind.”

Fintel says he is also seeing plenty of buying activity on used sprayers.

“It’s a great opportunity to look at sprayers and planters this time of year, and really, that’s what we’re seeing move (right now),” Seymour adds.

There is also growing demand in his neck of the woods on used row crop tractors, Fintel says. Anything priced under $500,000 is where most farmers look first.

“There’s just so many out there, farmers feel like they should take advantage,” he says.

Shawn Hackett, president and CEO, Hackett Financial, went over recent developments in the corn and soybean commodities markets. He thinks the growing season in the Midwest will experience weather-related challenges in June and July (hot, dry conditions) before flipping to a cool and wet pattern. That could lead to slow harvests and high moisture corn needing to be dried down, piling extra costs onto farmers. These factors could lead to a significant crop price rally later in the year, he predicts.

Anthony Styzinski, service development manager, John Deere, also joined Seymour to go over the latest technology advances within Deere’s line of planting equipment. He talks about ExactEmerge and MaxEmerge 5E electric seed metering tech, as well as seed and fertilizer level sensing and vacuum automation.

Watch the full episode of Moving Iron over on YouTube now.

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Trending Used Farm Equipment: Pre-DEF Still Prime, Regional Needs And Insights For Dealers

Thu, 05 Jun 2025 18:03:11 GMT

Strong auction pricing is holding across all types of used farming equipment, and older, pre-DEF combines and tractors are leading the bump-in-value charge.

For example, the average auction price on a used John Deere S670 combine today sits at just over $82,000, whereas last year it settled in at the $80,000 mark. Keep in mind that used combines are a market bell weather, often signaling trends 12 months to 18 months ahead the high-horsepower tractor segment.

Check out this example from Machinery Pete’s Facebook:

And this 2012, high-hour pre-DEF John Deere 8360R tractor is another solid example.

“The biggest driver right now is total numbers sold, which is way off from last year and from 2023,” Machinery Pete says on the latest episode of the Moving Iron podcast. “We’ll see what happens for the rest of 2025, but total volume is down and we see the same thing with late-model tractors — there just hasn’t been as many sold at auction. But the older machines are holding their value a little better (than late-model machines), that’s the bottom line.”

Pete’s fellow podcast host, Casey Seymour, thinks one of the biggest issues holding used farm equipment sales down today are high interest rates. Dealers with high inventories are stuck with big interest payments for the machines stuck on the lot, which gives them pause when it comes time to bring in new machines or pursue more trade-ins.

“I think a lot of dealers were hoping we’d start to see the buying activity pick up. We’re seeing some activity, but it’s just not fast enough. That flywheel’s not turning fast enough,” he says. “It’s just starting to turn a little bit, but the speed and velocity dealers look for isn’t there yet.”

Pete and Seymour both sense a strong fall harvest could be just the thing to pull more buyers back into the market. Pete thinks the current buying activity hiatus will be shorter and sharper than the one that took hold during COVID.

“We’ve basically hit a stabilization point. If we see another big push to auction at the end of the year, I’m not 100% convinced we’ll see a huge uptick or downtick in pricing,” Seymour adds.

Know Your Locals
Regionalism is everywhere in farming, and it certainly extends to the world of farm equipment. Farmers in the open-acre, pivot-ringed fields of the Nebraska panhandle — where Seymour lives — have different machinery needs than farmers in the gently rolling Kansas foothills.

If you’re a used equipment dealer, Seymour says you must understand the needs of the local farmer and have a good feel for how many regionally configured machines you can move in your area. It also helps to have connections in the heavy equipment transport world so machines you sell via online auction can get to a farmer a few states over without a giant transportation fee.

“The chances of that 25' variable tillage rig selling around Cheyenne or Wells County are pretty slim, unless it’s a smaller outfit,” says Aaron Fintel, used equipment specialist with 21^st Century Equipment. “I always try to be dialed in enough that I know exactly where that thing is going to sell. Maybe it came out of Illinois, and I sold that same guy a really nice 40' rig. Now I would bet some guy near Columbus will call about the 25-footer.”

Rounding out the rest of this week’s episode of the Moving Iron Podcast is a segment on the latest commodity market happenings with Shawn Hackett, president and CEO of Hackett Financial Advisors, and an update from John Deere’s Ryan Stien on how growers are using Operation’s Center to organize, view and share all of their machine data within one digital platform.

Want more Moving Iron? Head over to YouTube to watch the full episode and make sure you hit the “subscribe” button to get every new episode.

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