100+ Horsepower Tractor Asking Values Trending Down

In our last episode we looked at the used combine market. This time we’re going to turn our attention to tractors with 100+ horsepower. The latest data from Sandhills and Tractor House shows inventory levels in this market have been trending upward for several months. 

And, that trend continued in November with inventory up 0.8% month-over-month. On a year-over-year basis, used 100+ horsepower inventory levels are up 23.5%. Sandhills observed the largest month-over-month increase in the 100-174 horsepower tractor range, up 1.34% and the largest year-over-year increase in the high horsepower tractor category, up 38.2%.

Asking values have been trending down for months and were down in November by 2.2% month-over-month and 6.4% vs. last year. The biggest drops were seen in high-horsepower tractors, down 2.6% vs. October, and 175- to 299-horsepower tractors, down 8.4% year-over-year.

Auction values were up about 0.2% month-over-month and down 14.4% year-over-year in November and are trending steady. 

The Sandhills Equipment Value Index spread fell to 44% in November (down from 47% in October), but that figure is still greater than the historic highs set in 2015.

Watch the full version of this episode of On The Record