With the 2019 sales year rapidly approaching, North American farm equipment dealers are taking a close look at their equipment inventories, with more than one-third of them noting that combine inventories are “too high” in the latest Dealer Sentiments & Business Conditions Update survey. This was in line with the results of the previous survey when 34% of dealers said their combine inventories were “too high.”
Otherwise, other inventories of other used equipment improved with a net 19% of dealers reporting their backlog of used equipment inventory as “too high.” This is an improvement from the previous month when 24% rated their overall inventories as “too high.”
At the same time, used equipment pricing declined somewhat. Large tractor pricing was reported down 2% year-over-year vs. down 1% the previous month. Combine pricing was reported down 6% vs. down 4% the previous month.
According to the most recent survey results, new equipment inventory levels improved with a net 16% of dealers reporting inventories “too” high vs. 23% who reported inventories “too high” the month before.