Tractors
From Jan. 1 to Aug. 4, Machinery Pete has seen 66 new to 3-year-old planters sell at auction. Twenty sold during that same time frame a year ago, 10 in 2022, 14 in 2021 and a mere six in 2019.
A roundup of releases for farmers over the last couple of weeks.
The Racine, Wisconsin, equipment manufacturer announced a series of new technology products and capabilities for its machines and precision ag products.
Farm equipment and smart farming solutions news roundup for the week of August 19, 2024.
Rising inventories and declining auction values strain dealers, farmers, and manufacturers, leading to layoffs and financial pressures across the industry.
Machinery Pete says it could be dangerous to rely on past equipment sales patterns
Highlights included a restored 1971 International Harvester 1456 and many late model tractor and combine deals.
Cory Reed, president of Worldwide Agriculture & Turf Division, spoke about layoffs, citing lower demand due to falling net farm income, higher interest rates and market volatility.
June sales of tractors dropped 16% compared to 2023, while combine sales were down 31%.
A quick summary of farm machinery and ag tech news you might have missed if you weren’t paying attention.