Farm Equipment editors encounter a variety of articles, social media posts, podcasts and videos that offer a unique look at various aspects of our great farm machinery industry. Here is our favorite content from the past week.
Farm Equipment editors encounter a variety of articles, social media posts, podcasts and videos that offer a unique look at various aspects of our great farm machinery industry. Here is our favorite content from the past week. The Best of the Web This Week series is brought to you by Dealership Minds Summit.
It was 5 years ago when I visited with Mike Boehlje, the distinguished professor in the Dept. of Agricultural Economics at Purdue University. At that time, signs were appearing that indicated the industry was in for a slowdown following 4-5 really great years of equipment sales. The special report that ensued was called “Dealing with Ag’s Boom–Bust Cycles.” Boehlje discussed a couple factors that directly impacted equipment dealers.
In its Feb. 4 Ag Finance Databook and Feb. 15 Ag Credit Survey report, the Federal Reserve Bank of Kansas City characterized current credit conditions as “stabilized modestly but continuing to show signs of weakness … despite signs of stabilizing in the fourth quarter, bankers’ expectations were for loan demand to strengthen and loan repayment rates to weaken slightly in the first quarter of 2018.”
It was 5 years ago when I visited with Mike Boehlje, the distinguished professor in the Dept. of Agricultural Economics at Purdue University. At that time, signs were appearing that indicated the industry was in for a slowdown following 4-5 really great years of equipment sales. The special report that ensued was called “Dealing with Ag’s Boom–Bust Cycles.” Boehlje discussed a couple factors that directly impacted equipment dealers.
Reporting on the results of its second quarter Ag Credit Survey, economists from the Federal Reserve Bank of Kansas City suggest that, while still soft, the farm economy in the Fed’s Tenth District is showing signs of stabilization. Nonetheless, regional banks are closely scrutinizing farm loans.
The Federal Reserve Banks of Kansas City and Dallas are reporting that demand for farm loans held steady or declined slightly in the second quarter, but renewals and extensions increased somewhat. At the same time, the banks report the interest rate on some loans, including ag machinery, has risen modestly.
Several factors will come into play in 2017 that will determine the direction of land values, according to the latest reports from Farmers National Co.
A year ago I wrote a column entitled Gathering Storm Clouds. That was followed up by last month’s column articulating the nine steps that should be undertaken during the turbulent times that lie ahead for equipment dealers. While some may be too timid to call a war a war, make no mistake about it, what equipment dealers will experience over the next 5 years will be a “war of attrition.”
Greg Petras, president of Kuhn North America, says despite the current market challenges the company is continuing to invest in its facilities, people and products.
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