Ag equipment dealers reported year-over-year sales growth slowed to 6% on average in November, down from 9% in October. Deere dealers accounted for the majority of the slowdown as growth returned to prior months' trends at 5% in November from 10% in October.
As we head into the New Year, here's a recap of what dealers told us in our most recent "Dealer Trends & Business Outlook" survey conducted by Ag Equipment Intelligence and Cleveland Research Co. in December.
An in-depth analysis of U.S. land use patterns released earlier this week by the USDA shows total cropland decreased by 34 million acres from 2002 to 2007, the lowest level since USDA began collecting this data 1945.
Claas, one of Europe's largest manufacturers of farm machinery, is reporting that its sales increased by 33.5% in the fiscal year ending September 30, 2011 and posted its highest sales in its history
Flawed carbon accounting schemes at both the federal and state level are creating a dynamic where the U.S. is importing ethanol from Brazil while simultaneously exporting greater volumes back to Brazil.
According to the November 2011 Ag Equipment Intelligence Dealer Trends & Business Outlook report, farm equipment manufacturers were not as aggressive with their incentives to increase sales in October as they were in November.
In addition to reporting a record $2.8 billion income for the year, last Wednesday, Deere & Co. reported that its fourth-quarter income rose 46% on a 20% increase in sales and revenues.
Raven Industries Inc. today announced third quarter results for the three months ended October 31, 2011. Higher sales were led by strong demand for the company's precision agriculture solutions. Third quarter net income declined from prior year levels.
By the numbers, all signs continue to point to strong finish to the year for farm equipment and agriculture in general. And if you like numbers, here's a few to chew on.
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