Farm equipment dealers say that new equipment prices are up an average of 4.8% year-over-year, which is slightly higher than the 4.5% they reported in July. Meanwhile, used machinery pricing in September was consistent with what dealers reported in August.
The current equipment pricing trends are being reported in the September issue of Ag Equipment Intelligence’s Dealer Trends & Business Outlook that is based on the survey responses of 345 dealers across North America. The survey is conducted monthly by Ag Equipment Intelligence, a sister publication of Farm Equipment, and the Cleveland Research Co.
According to the September survey, dealers are noting price increases from nearly all suppliers with some implementing a second round of increases. John Deere and Case IH dealers bother report prices increases over 5%, above the overall average. Additionally, new model year price increases have also recently been announced.
On the used equipment side, the September survey indicates that August pricing remained about the same as dealers reported in July.
By category, tractors over 100 horsepower were up 3.1% year-over-year on average in August vs. 2.8% in July. Used prices for used tractors under 100 horsepower were up 2.1% in August, which was consistent with July. Used combine prices were up 0.2% year-over-year in August.
Sequentially, a net 6% of dealers report higher values for under 100 horsepower utility tractors (11% higher, 85% same, 5% lower) up from July’s increase of a net 1% reporting lower values.
For tractors over 100 horsepower, a net 9% of dealers report higher values vs. the previous month (16% higher, 77% same, 7% lower), which was consistent with July.
A negative net 14% of dealers reported lower used combine values vs. last month (12% higher, 63% same, 26% lower), down from a negative 12% in July.