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NW IL | I recently heard from a fairly reliable source that when sales opened up for new combines a year or 2 ago there was a line at the door waiting. In anticipation, the next year one of the local Deere dealer branches pre-ordered 18 new X9 combines (2023 models). When sales opened for them no one wanted to buy. Now mother Deere is making the dealer take them.
Basically it sounds like locally at least new combine purchases froze pretty quick. Farmers getting short on cash? Waiting to see how the dry summer pans out? Farmer capital reserves went to land sales? High input prices tank equipment buying power? New equipment getting too high priced?
A new Fendt 1162 went from 500k to 700k in one year. Leasing at $300/hr. A new (Edit to add, New Holland) 10ft discbine is increasing over 10k in one year. A new Case IH upper 200hp tractor jumped 30% in a year.
High prices cure high prices??
Edited by Farmer087 9/22/2023 12:13
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Deere and new equipment sales
