Inventory levels of U.S. used tractors 100 horsepower and greater declined 2.5% month-over-month and 0.66% year-over-year in May, following a downward trend, according to SandHIlls Global’s May Market Reports. The used 100-174 horsepower tractor category had the largest impact on this market, with inventory falling 4.8% vs. the previous month and 9.59% year-over-year.

Asking values were declined as well, down 1.88% month-over-month and 6.41% year-over-year  and are trending downward. The used high-horsepower tractor category — tractors with 300 horsepower and greater — showed both the largest month-over-month asking value decrease, at down 2.94%, and the largest year-over-year decrease, at down 6.63%.

Despite auction values falling 2.09% month-over-month and 4.1% year-over-year in May, they are on a sideways trend. Sandhills observed the largest month-over-month decrease in the used high-horsepower tractor category, down 3.21%, and the most significant year-over-year decrease in the used 175- to 299-horsepower tractor category, down 3.84%.

The EVI spread, which measures the percentage difference between asking and auction values, maintained at 38%, still slightly lower than peak values observed in 2015.

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