Tough conditions in the ag economy have farmers pushing older equipment's lifespan through upgrades and "doubling down on repairs. More expensive new and newer machinery is collecting dust on some dealer lots," reports Andy Castillo, in a March 19 Farm Futures article.
The current slow ag economy followed several years of record farm profits post-pandemic. During that period, equipment manufacturers increased their production to compensate, but high interest rates, tariffs and low commodity prices meant inventory piled up on dealers lots, he reports.
“There’s a glut of it. Whether you’re an equipment supplier or a farmer producing mountains and mountains of corn and other crops, we’re the victim of our own success,” Texas ag consultant Pete Weisenberger said in the report.
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