Tuesday, December 13, 2022
As we enter the winter months many are expecting the index values, and the retail and auction values that comprise them, to fall. However, demand from farmers may keep them high as inventory constraints start to ease. The most recent USDA Farm Sector Income Forecast, published on December 1st, 2022 estimates “net farm income would be at its highest level since 1973.” If realized, this record farm income may keep demand (and prices) high for new and used farm equipment in general. See more in..
Nearly 30 percent of large farmers say that brand loyalty is less of a priority when selecting farm equipment than it was five years ago, according to a May 2022 McKinsey survey cited in the September 2022 article, “Voice of the US Farmer in 2022: Innovating through uncertainty.”
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