North American farm equipment sales continued to rise in August, but the pace slowed somewhat compared to previous months, according to the latest figures from the Assn. of Equipment Manufacturers. Of more concern than the unit sales may be the building inventory of new machinery that has caught the attention of industry observers.
Two publicly held Canadian dealerships — Cervus Equipment Corp. (“CVL” – John Deere) and Rocky Mountain Dealerships (“RME” – Case IH & New Holland) — issued first-quarter earnings reports on May 11. According to Raymond James Ltd. analyst Ben Cherniavsky, one hit the mark while the other didn’t live up to expectations.
Not only did CNH issue its first-quarter earnings report, but it also announced that it plans to spin off its farm and construction equipment as well as its heavy truck businesses.
Today, USDA reported the 2011 corn crop is 91% emerged, but is off to a start that remains behind last year’s crop (97%), as well as the average pace over the last 5 years (96%).
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.