A precipitous drop in the number of commercial banks means fewer lenders understand agriculture. And that spells trouble for farmers, according to Alan Hoskins, president and CEO of American Farm Mortgage Co
"In our territory, securing capital for our customers is going to be a challenge,” says Tom Rosztoczy, Stotz Equipment president. “We have banks pressuring farmers to limit spending, questioning how money is spent, and trying to control farmer spending as much as they can to keep the farmers operating within the parameters the banks want to see.”
On paper, the two dealerships couldn’t be more different: one, a 25-store John Deere dealership spread across 8 western states, the other, a New Holland and Massey Ferguson dealership with 2 stores in central Wisconsin. But when you listen to the people who run them, their challenges are strikingly similar.
Over the last two decades, the agricultural equipment market has seen dramatic change — change that has had a huge impact on farm equipment manufacturers, dealers and customers. In this special report, Farm Equipment takes an in-depth look at the many factors that have been driving industry consolidation through the decades, and what to expect in the years ahead.
Kyle Mensen, lead test engineer with Raven Industries on the DOT project, talks with Farm Equipment editors at the Farm Progress Show 2020 Media Day in Boone, Iowa, and shows off the capabilities and ease-of-use found on the new DOT platform.
Join Precision Farming Dealer on January 11-12, 2021 in Indianapolis, Ind. for 2 days of unlimited learning and networking with the best minds in precision farming. This exclusive DEALER-ONLY conference is focused 100% on equipping your company to run a more profitable precision farming business.
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