Our industry is navigating some very choppy waters as international trade negotiations continue. Uncertainty has created caution in farmers’ spending recently and most likely will continue until there is some resolution to the trade talks now underway.
China’s need for agricultural imports remains significant since they are faced with providing food for nearly one-third of the world’s population. The past decade has produced a growing middle class in China that has demonstrated an increased demand for not only basic foods, but also for high quality products that are only available from other parts of the world.
The strength of the U.S. economy continues to provide support for the smaller tractor sales but the recent declines in the stock markets will have a sobering effect upon some future purchases.
Our models track commodity prices, international currency exchange rates, total number of farms, total number of farms by gross production value. Here is our 2018 U.S. forecast and the rationale of how we arrived at those numbers.
Supply and demand is alive and well in the U.S. agricultural economy. Harvest of U.S. crops has begun and brings with it a great expectation of a record yields. Like a huge seesaw, high demand for a commodity elevates the prices customers are willing to pay for that product and when there is an excess worldwide inventory, prices fall to meet the slowing demand.
Supply and demand is alive and well in the U.S. agricultural economy. Harvest of U.S. crops has begun and brings with it a great expectation of a record yields. Like a huge seesaw, high demand for a commodity elevates the prices customers are willing to pay for that product and when there is an excess worldwide inventory, prices fall to meet the slowing demand.
Each time that Farm Equipment surveys dealers used equipment continues to be among their biggest worries. The past effects of Section 179 Bonus Depreciation has filled dealer's lots with a large number of relatively new, low hour tractors, combines and other equipment and these units have had an effect upon the sale of new equipment.
In today’s newscast we look at the possibility of equipment dealers using 3-D printers to make replacement parts, the latest earnings from AGCO, CNHI, Kubota and Trimble, Claas’ long awaited entrance into the North American tractor market, and what dealers think could prevent further declines in high horsepower tractor sales.
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The announcement of a partnership between New Holland and Bluewhite was one of the big precision stories of the summer. West Coast New Holland dealers now have the rights to sell, distribute and service Bluewhite’s aftermarket autonomy kits.