Home   News

Tractor, combine supply to stay tight for two years: economist

Farmers wanting to buy a new tractor or combine need deeper pockets and patience with delivery.

“Overall demand for farm equipment is projected to remain strong into 2023, despite rising interest rates and a weakening Canadian U.S. exchange rate,” says a report by senior economist Leigh Anderson of Farm Credit Canada.

Demand is buoyed by strong farm cash receipts, even with commodity prices softening from peak levels.

Farm equipment manufacturers are expected to increase the delivery of new equipment orders but inventory levels will remain below pre-pandemic levels and “could remain tight beyond 2024.”

Disruptions in supply chains by the pandemic have reduced equipment sitting in the lot.

Click here to see more...

Trending Video

Crop Talk - Tamra Jackson-Ziems

Video: Crop Talk - Tamra Jackson-Ziems

A new segment to share with you today. It is called Crop Talk. This segment will be focused on bringing row crop producers the most up-to-date research and data available. We plan to visit with extension and industry experts to share information with you that will ultimately help improve your yields and profitability. For our inaugural Crop Talk segment we welcomed, Nebraska Extension Plant Pathologist Tamra Jackson-Ziems to discuss how seed selection could help avoid some pesky pathogens in your corn fields.