Net income attributable to Deere & Company was $980.7 million, or $2.65 per share, for the second quarter ended April 30, compared with $1.084 billion, or $2.76 per share, for the same period last year.
Following a presentation I made to Indiana and Kentucky dealers in Louisville several weeks ago, I was asked by a dealer attending the session how much confidence did I have in monthly reports from the U.S. Dept. of Agriculture.
While the unpredictability of commodity prices in the past year have given some cause for concern, the fact remains U.S. agricultural fundamentals continue to support the long-term health of the industry.
In today's newscast, we look at 2014 forecasts that point to a softening in the ag equipment market, what a shift from corn to soybeans could mean for equipment sales, the new financial report from ag equipment manufacturer Buhler Industries and the increase in demand for lawn and garden equipment.
U.S. turkey consumption follows a strong seasonal pattern characterized by peaks in per capita consumption around the Thanksgiving holiday. Wholesale and retail prices tend to peak in the months preceding Thanksgiving followed by drops in price during November and December.
In the face of volatile grain prices, uncertainty about depreciation rules, skepticism about a new farm bill and a lot of talk about farm equipment sales peaking, North American farm equipment dealers continue to see good potential for solid sales in 2014.
We received enough calls in the past week or so to know dealers and suppliers are gearing up for their annual exercise in forecasting and best estimates for planning for 2014.
Debt-to-asset and debt-to-equity ratios are traditional measures of the farm business sectors financial solvency. Based on forecasts of the value of farm business assets and debt, the sectors debt-to-asset ratio is expected to decline from an estimated 10.7 percent at the end of 2012 to 10.2 percent by the end of 2013.
North American farm equipment dealers are maintaining a strong positive outlook for the remainder of this year, according to the latest Dealer Sentiments & Business Conditions Update survey. Overall, the dealers' 2013 industry outlook improved to 5% in April, up from 3% forecast in the previous month.
Titan Machinery, North America's largest dealer network for farm equipment, this morning reported its revenue increased 37.6% to $582.1 million for the third quarter of fiscal 2013 from revenue of $423 million in the third quarter last year, also raised its outlook for the remainder of the year.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
Montag is the industry’s innovative leader for precise, accurate metering of fertilizer, seed and other nutrients. The Montag system has become the standard for deep banding of fertilizer. Montag is also pioneering the technology for cover crop seed application. The new Cover Crop+ is able to meter the smallest seed, and can be mounted to tillage implements, combines, plus Hagie sprayers and detasselers.
At Machinery Scope, we believe you deserve the best risk management solutions for your investments in heavy equipment. Since 2013, we have been proud to offer extended warranty, appraisals, and inspections. Machinery Scope is a family-owned business built on our experience in farming and equipment dealerships. We understand your business and provide a personalized and professional level of customer service. Machinery Scope has built a strong warranty product with our customers in mind, offering the same professional level of service from the time you get a quote, through the processing of a claim.