Ag Equipment Sales Remain Positive in February
The latest data from the Association of Equipment Manufacturers shows U.S. sales of ag tractors and combines remained in the plus column in February.
Total two-wheel drive tractor sales grew 17 percent compared to February of last year. That category was led by under-40-horsepower machines, which gained 24 percent over last year, as well as a seven percent gain for 40-through-100-horsepower two-wheel drive tractors. February sales of four-wheel drive tractors grew 17 percent compared to the same time last year. Self-propelled combine sales in the U.S. grew 21 percent in February.
Canada didn’t fare quite as well, with February gains only for self-propelled combines, up 25 percent, and for under-40-horsepower two-wheel drive tractors, which were 23 percent higher than in 2018.
“We’re encouraged that USDA estimates farm income is expected to increase slightly in 2019 after last year’s declines,” says Curt Blades, AEM senior vice president. “Hopefully, that signifies some optimism in the U.S. as the year moves forward. We’re hopeful that the new farm bill will provide more certainty for farmers as they plan ahead.”
Source; NAFB News