In this episode we take a look at how used tractor prices continue to increase while inventories remain low. In the Technology Corner Michaela Paukner breaks down the technology plans for strip-tillers based on Strip-Till Farmers 2022 benchmark study. Also in this episode: NAEDA completes its merger, the forecast for China tractor sales over the next 5 years, Purdue's Farm Capital Investment Index remains at a record low, and we introduce the pilot episode of our new docuseries Stories from Independent Ag Equipment Innovators.
The Purdue University/CME Group Ag Economy Barometer dropped to its lowest level since April 2020, down 22 points in May to a reading of 99. Agricultural producers’ perceptions regarding current conditions on their farms, as well as their future expectations, both weakened this month.
Tight machinery inventories continue to be a problem. In February, over 40% of producers stated that low farm machinery inventories are holding back their investment plans, according to Purdue University's Ag Economy Barometer.
Farmer sentiment in July was virtually unchanged from a month earlier as the Purdue University-CME Group Ag Economy Barometer rose just one point to a reading of 118. The small change in the barometer left it 30% below its February 2020 peak and 23% below its level a year ago.
The Purdue/CME Ag Economy Barometer rose in November for the second month in a row, climbing to 153, 17 points higher than in October when the index stood at 136. This month’s rise in the ag economy sentiment index left the barometer tied with July for the highest barometer reading of 2019.
In this episode of On the Record, we take a closer look on AGCO’s unfinished inventory, which is the highest it’s been in 2 years. In the technology corner, we take a look at Precision Planting's new tools for automating soil sampling. Also in this episode, the results of a Farm Equipment poll on OEM new equipment lead times, an update on the UAW-CNH strike.
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