The 2025 Executive Briefing Mid-Year Review, held June 6, provided an update on the equipment industry through the first half of the year as well as how the first 6 months are impacting original forecasts for the year. During a high-level panel discussion, Steve Hunt, president of Case IH dealer H&R Agri-Power, Craig Harthoorn, retired president of Oxbo's Forage Division and Ryan Schaefer, vice president of New Holland North America, shared their thoughts.
While manufactures and dealers alike were calling for a softer year heading into 2025, the year has proven to be perhaps more challenging than expected.
"Farm profitability and net farm income is always one of your biggest drivers that we deal with in the North American market. The net cash receipts are the most highly correlated statistical measure to the new equipment market," Schaefer said. "The challenge there is we're looking at pretty stable net farm income this year on the back of commodities and some of the government support programs. Generally speaking, dollar for dollar, farmers don't react to government support the same way that they do grain in the bin or cash at the elevator, the river terminal."
Click here to see more...