Our data bases include information for tractor sales derived from AEM’s monthly Flash Reports that dates back to 1969, USDA reported net farm income that dates back to 1969 and U.S. Department of Labor’s GDP data that dates from 1970.
Overall tractor unit sales continued their growth across North America in October 2020 despite a small pause in larger units in Canada, according to the latest data from the Assn. of Equipment Manufacturers (AEM).
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.
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According to the USDA’s Farm and Land in Farms report published earlier this year, the average U.S. farm size has increased about 10 acres from 2012-2019, to 444. But the number of farms has decreased by more than 86,000 during that same span. There are a variety of factors contributing to the decrease and the last few years have further challenged some small and mid-size operations to remain profitable.