Combine sales remain strong in May
May farm equipment sales indicate continued optimism in the ag economy.
Curt Blades with the Association of Equipment Manufacturers says combine and four-wheel drive tractor sales grew by more than 50 percent.
“That points to the true ag market being relatively optimistic. And as we know, that is sort of the lifeblood of our economy, the lifeblood of rural America. And our manufacturers are happy to supply those tractors to farmers.”
He tells Brownfield the growth in high horsepower tractor and harvester sales suggests farmers might be preparing for weaker commodity prices.
“So if there are maybe some of those concerns about interest rates or other things that might be changing in the future, I think farmers might be thinking now is the time to make the upgrade. I’m not making it for 2023 or 2024, but I’m making it for the next ten years.”
Blades says total farm tractor sales in the U.S. are down 12 percent compared to 2022, but combine sales are up 68 percent.