Compact tractors, 40-99 horsepower tractors, 100+ horsepower tractors, 4WD tractors and combine all exceeded their retail sales forecasts in August.

In line with June, compact tractors, 40-99 horsepower tractors, 100+ horsepower tractors and combine sales exceeded expectations in July, while 4WD tractors was the only category to not beat expectations.

According to the latest ag equipment sales numbers from the Assn. of Equipment Manufacturers (AEM), U.S. large ag sales increased 6.3% year-over-year in June (May: –14.5%). Combined U.S./Canada large ag sales increased 4.6% (May: –20.1%).

All equipment retail sales exceeded monthly expectations or were nearly flat in the month of April. Higher horsepower tractors were the only exception, being 9.5% below the monthly forecast.

For March 2020, all equipment retail sales categories fell below the monthly forecast except for combines, which surpassed the forecast by 43 units.

U.S. large Ag retail sales increased 4% in December after a weaker November. Combined U.S. and Canada large ag declined 2%. “Canada declined more severely with large ag sales down 23.3%, the largest year-over-year decline since July,” said Mig Dobre, analyst for RW Baird, in his summary of sales for the month from the Assn. of Equipment Manufacturers.

In this week’s podcast we look at the emerging hemp industry and what it could mean for the farm machinery business. In the Technology Corner, Jack Zemlicka shares some insights on how ag start-ups, particularly on the software side, could offer some lucrative opportunities for dealers. We also discuss tractor and combine sales for the first half of the year and what we might expect in the second half of the year. Also in this episode, dealers and manufacturers say hay and forage equipment sales have seen a nice pick up recently, and we discuss the moderate increases in non-real estate farm lending.