The Assn. of Equipment Manufacturers reported on November 10 that North American retail sales of farm tractors fell by 22.6% in October, with U.S. sales declining 22.8% and Canadian sales dropping 20.7%.
RW Baird analyst Robert McCarthy considers the newest sales figures as modest improvement compared with April. “Given challenging fundamentals, ag equipment demand appears likely to remain weak into 2010,” McCarthy says in a note to investors.
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