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Dealer Sentiment Sags as Uncertainty Lingers

Faced with more uncertainty than usual, farm equipment dealers are slightly less optimistic than they were a year ago. Spring flooding that hampered, and in some cases prevented, farmers from getting in their fields during planting season, along with stagnant commodity prices are challenges that are not new to farming. The industry has dealt with these bumps in the road time and again. 
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Best Bets for 2020: Lawn and Garden & Precision Farming Equipment

The latest episode of On the Record is now available! In this week’s episode we take a look at Ag Equipment Intelligence’s 2020 Dealer Business Outlook & Trends report, specifically examining what dealers said were their “Best Bets” for upcoming year, along with concerns over the rising price of new equipment. In the Technology Corner, Jack Zemlicka discusses dealers’ hiring plans for precision farming specialists in 2020. Also in this episode, the Dallas Federal Reserve Bank reports farmland values are holding steady in the 11th District, African Swine Fever’s potential impact on U.S. ag and equipment sales, and an update on the hemp market.
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Ag Economy Barometer

U.S. Pork Exports Volume Rises 22% in August

According to a monthly report of USDA data compiled by the U.S. Meat Export Federation (USMEF), U.S. pork exports increased 22% year-over-year in August to 244,256 tons. Total pork export valued increased 19% to $588.8 million. This could be good news for sales of utility tractors, which are most commonly used in the production of livestock and were among surveyed equipment dealers' best bets for improved sales in 2020.

January to August export volume of pork was up 4% compared to the same period in 2018, reporting 1.8 million tons and an increase in value by 1% to $4.35 billion. U.S. beef exports were slightly below last year’s volume for January to August, reporting 971,716 tons (a 2% decline) and $5.4 billion in value (a 1% decline).     

USMEF also reported that China/Hong Kong was the largest destination for U.S. pork exports, coming in at 70,168 tons this August (more than triple the August 2018 volume) and increasing export value by 160% to $137.6 million. This follows a severe outbreak of African Swine Fever (ASF) in mainland China and surrounding countries, which has already boosted U.S. beef exports to China. USMEF president and CEO Dan Halstrom commented on what this could mean for U.S. pork exports in the future.

  • U.S. Pork Exports Volume Rises 22% in August

    According to a monthly report of USDA data compiled by the U.S. Meat Export Federation (USMEF), U.S. pork exports increased 22% year-over-year in August to 244,256 tons. Total pork export valued increased 19% to $588.8 million. This could be good news for sales of utility tractors in the 40-60 horsepower range, which are most commonly used in the production of livestock.

  • Farmers More Optimistic About Future vs. Current Conditions

    The Purdue/CME Group Ag Economy Barometer for September 2019 shows that farmer sentiments about current and future economic conditions differ decidedly. According to Purdue researchers, the Ag Economy Barometer dipped slightly in September to a reading of 121, down just 3 points from August, when the index stood at 124.

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