The Farm Machinery Manufacturing Producer Price Index was up 13.6% year-over-year in February (+200 bps sequentially), the strongest growth in Baird’s historical tracker (dating back to 2005).
Tractor and harvester production is underway in Europe once more after extended shutdowns brought output to a complete halt as the coronavirus pandemic took hold.
CNH Industrial announced a series of updates to its business operations amid the COVID-19 pandemic. Aside from changes to executive positions, the announcements have been fueled, at least in part, by the growing economic impact of the virus.
According to a March 24 Bloomberg report, Deere said it will stop production at its six plants in Brazil in an attempt to contain the spread of the coronavirus.
Along with other Brazilian ag equipment factories, the Canoas unit has received over $200 million back on investments. The entire AGCO portfolio in Brazil was updated in 2016 with 100 new products, and all tractors produced are new models.
At the inauguration of a new logistics facility for the Massey Ferguson tractor factory in France, AGCO managers revealed plans for further expansion of the site to accommodate an increase in production capacity and introduce a new product line.
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In this episode of On The Record, we examine Deere’s Population of 20-Store Dealers On the Rise. In the Technology Corner, we take a look at Carbon Robotics Developing New “Thinning” Function for LaserWeeder. Also in this episode: AGCO & Kubota Sign Right to Repair MOUs, Deere Reports Rising Large Ag Price Realization - Lower Production Costs and Dealers’ Most Pressing Concerns.