U.S. farm equipment dealers are expecting 2014 retail sales of ag machinery to come in at about the same level as 2013 or slightly lower, according to UBS Equity Research’s most recent dealer survey. More than half of the 160 responding dealers believe USDA’s forecast for a 10% drop in 2013 net cash income will be a headwind to increasing equipment sales in 2014.
In a note to investors, Steven Fisher, analyst for UBS, said…
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