Forecasting is often difficult even in the best of circumstances, but projecting what 2013 could look like is an even bigger headache than usual for most dealers. The best part of it is it still looks like it will be a pretty good year.
As in previous drought years, net farm income in 2012 is expected to be fairly stable, according to USDA. But industry observers are divided on whether this is a bearish? or a bullish? for farm equipment sales for the remainder of the year.
Fiscal 2012 agricultural exports are forecast at $134.5 billion, up $3.5 billion from the February forecast, but $2.9 billion below final fiscal 2011 exports, according to USDA's most recent "Outlook for Agricultural Trade."
USDA's issued its Prospective Plantings report last Thursday and it got the attention of most industry observers as it projected the most acreage planted to corn in 75 years. At the same time, it forecast that soybean and wheat acres would slip below 2011 plantings.
Last week, USDA issued its initial forecast for net farm income for 2012 and lowered its estimates by 6.5% vs. its revised 2011 projections of $98.1 billion. Its earlier 2011 forecast called for $100.9 billion.
When things to be going too well, most of us start thinking about what could go wrong. As we're preparing for the 2012 Farm Equipment forecast, it's kind of scary to see how things are lining up for the coming year.
Meteorologists look into the future every day. While this afternoon's weather is usually an easy call to make, things get a little dodgier with a 10-day forecast, much less the 10-year forecast.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we look at President Trump's tariff reduction on ag equipment, the latest dealer sales forecasts, and how high input costs are keeping farmer sentiment down.
Since 1980, A&I Products has become a leading manufacturer and wholesale distributor of aftermarket replacement parts for the agricultural, turf, and industrial equipment markets. A&I Products' experience and expertise has greatly contributed to the company's reputation as a top supplier of quality, reasonably priced parts. Founded with roots as a small machine shop and repair facility, the company made the transition by manufacturing new parts to replace those that were identified as commonly needing repair. Throughout the 1980s, the company quickly garnered a reputation for offering quality parts at a reasonable price.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
At Machinery Scope, we believe you deserve the best risk management solutions for your investments in heavy equipment. Since 2013, we have been proud to offer extended warranty, appraisals, and inspections. Machinery Scope is a family-owned business built on our experience in farming and equipment dealerships. We understand your business and provide a personalized and professional level of customer service. Machinery Scope has built a strong warranty product with our customers in mind, offering the same professional level of service from the time you get a quote, through the processing of a claim.