Pressure on the overall economy has been rolling down to equipment sales for some time. Now, the used equipment market is feeling the impact.
Year over year, overall sales of used, high-horsepower tractors fell as much as 23 percent. In some regions, that number was pushing 40 percent.
Machinery Pete says that while footing remains solid so far this year, economic strains could create instability. He says the market was flooded last year when interest rates lowered slightly, causing values to fall.
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Farmers are struggling with low commodity prices and skyrocketing input costs, resulting in debt that is outpacing income across the sector, according to the USDA’s new farm income forecast.
This special program, presented in partnership with Nationwide Agribusiness, premieres on Monday, Sept. 1, at 6 PM ET, only on RFD-TV and RFD-TV Now.
