Another Amazing Report for Ag Equipment Sales in September

The latest report of ag equipment sales from the Association of Equipment Manufacturers (AEM) is amazing! The only minus sign in the entire report was a 1.3% decline in 4WD tractors comparing September 2020 to the same month in 2021. Otherwise, every single category, whether comparing month-to-month or year-to-date, were all positive!

YTD, under 40 HP is up 10.5%; forty to 100 HP up 12.9%; over 100 HP 2WD tractors up 26.2%. We mentioned 4WD tractors being down for the month, but YTD they are up a whopping 30.3%. All tractor sales YTD are up 12.2%. Combines are also showing quite well with an increase of 17.3% over 2020.

EDITOR’S TAKE:

This report is truly something to behold, especially when taking into account all of the challenges manufacturers and dealers are facing to keep up with demand. We recently reported that some farmers are feeling the pinch when attempting to purchase equipment, thus, some are switching spending to grain storage and other building. That said, it’s not that evident yet. What is evident is that farmers have money to spend. They are in a good position with great yields, solid prices for their products, lower debt on the books, good trade prospects ahead and rapidly escalating land values which improve their balance sheet even further. All-in-all, farmers are likely some of your best prospects as customers in the next three, six, twelve months and beyond. Look beyond your lot today to see who you should be targeting tomorrow – FARMERS!