Let me start by saying the COVID supply chain disruption was an absolute gift from the equipment gods because it helped clear out old used equipment. I am sure my statement will shock and astound everyone reading this. The perception that less equipment was sold during 2021-2023 is wrong.

Used tractor inventory levels in Sandhills Global marketplaces rose again in February, continuing a long-term inventory rebound that began in Q2 2022 as various pandemic-related farm equipment production and supply chain constraints began to ease.

“Farmers have disposable income, so they have money to spend it on and the tax laws really, really favor purchasing equipment,” Gary Schnitkey, a professor of farm management at the University of Illinois said. “Manufacturers are having difficulty keeping up with the demand.”