North America Large Ag Equipment Sales Strong, Inventories Decline

Ag equipment sales growth accelerated sequentially in December, and inventories began to recover in 2WD categories but remain near trough levels for 4WD tractors and combines, according to analysis from RW Baird Senior Research Analyst Mircea (Mig) Dobre. U.S. large ag retail sales were up 29.1% year-over-year, and Canadian sales were up 23.9%. Combined U.S./Canada large ag sales were up 28.3%, a sequential acceleration (November: +17.5%) aided by easier comps, the fourteenth consecutive month with…

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