As of this writing, dairy prices are at record levels and livestock prices are rebounding, but grain prices are trading at 50-60% below their record levels of a few years ago. As a result, farmer income is now expected to be down 14% this year.
Last week I had a long telephone conversation with an equipment dealer I know pretty well. We discussed where the industry is these days and where's it's heading.
If you have any doubt about dealers value to their manufacturers, you should know that the independent research firm Morningstar rates the quality of dealer networks as one of three major characteristics that sets one manufacturer apart from their rivals.
After covering the John Deere and Case IH media events within the last two weeks, as well as one put on The Climate Corp. at the Farm Progress Show last week, I can't help but think what a revolution agriculture is going through.
Do you use parts-to-labor ratio as a key benchmark in your operation? This important rule of thumb maintains that for every dollar of labor sales, your dealership should generate one dollar of parts sales. Both parts and service should be your dealership's most profitable departments and this ratio helps drive profits in both areas.
Could 3-D printing revolutionize the parts and service department in the dealership of tomorrow? Robert Saik, author of The Agriculture Manifesto and founder and CEO of The Agri-Trend Group, thinks 3-D printing is one of the drivers that will shape agriculture in the next decade. Saik writes, I think this is going to revolutionize the parts and the equipment industry going forward and it's going to drastically change how we handle our inventories and the delivery of repair parts to farmers.
Written on tablets of corn, wheat, beans, rice and cotton, and delivered by a peripatetic sojourner dressed in jeans and wearing a cap with an indistinguishable equipment machinery logo and with dairy cows in tow, the following Commandments were unexpectedly received with gratitude.
Do you have the right people in place at your dealership to pick up the slack if you need to be out of the office for an extended period, whether expected or unexpected?
Last week, while visiting a large farming operation in Michigan, I had the opportunity to ask the brothers who own and operate the 14,000-acre enterprise, if given the choice, what would they prefer, high crop prices or high crop yields?
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.