Ag equipment sales have struggled over the last year, and the situation does not appear to be improving.
Tractor and combine sales fell nearly 14 percent last month. The Association of Equipment Manufacturers shows that tractor models with 100 or more horsepower were down 19 percent on the year, four-wheel drive sales dropped 20 percent, and combine sales are down nearly 40 percent.
Numbers were down across the board in February, too. AEM says the driving factors are low crop prices and a lot of unknowns.
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U.S. producers are holding off on equipment investments amid financial pressure, market uncertainty, a rising demand for diesel, and growing desperation for trade wins.
