Figures released by the Assn. of Equipment Manufacturers on July 10 showed that, while large ag equipment sales declined again in June, inventory of these products on dealers’ lots continued to increase.
North American large ag equipment retail sales fell in March, with 4WD tractor sales down 6.4% year-over-year, combine sales down 23.9% and row-crop tractor sales down 9.5%, according to the latest figures released by the Assn. of Equipment Manufacturers.
In January, USDA once again lowered its 2013-14 outlook for farm cash receipts. The ag agency is now expecting cash receipts to decline by 14% in the year ahead. This is down from a 13% drop USDA projected in December.
Corn prices got at least a reprieve from its 40% decline from a year ago on the news that USDA lowered ending stocks to 13.9 billion bushels, a drop of 64 million bushels from previous estimates.
The manufacturers of tractors and combine harvesters are satisfied with the current economic situation. At the bi-annual meeting of the CEMA Product Group for large tractors and combine harvesters in Brussels on October 17 the manufacturers reported on slightly declining sales in Europe.
While U.S. and Canadian retail sales of farm tractors starting the second half of 2012 are showing surprisingly resilient, moderating trends in other countries are offsetting improvements in some overseas markets.
Despite robust U.S. tractor sales in recent years, overall tractor sales remain far from their 2004 and 2005 peak. Nonetheless, in terms of dollars, ag equipment shipments remain strong and healthy.
Bridgestone Americas’, Titan Tire, East Bay Tire, Bauer Built, Bruna Implement, Farm Equipment Survey, AEM, John Deere weigh in on ag market outlook for 2010
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