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Tag Archives: machinery

FARM MACHINERY SALES DOWN IN 2015

With producers facing what the U.S. Department of Agriculture has estimated as the worst year for farm income in a decade, the sale of farm machinery is down across the board. The Association of Equipment Manufacturers said U.S. sales of 100-plus horsepower tractors were down 23.6% in 2015. Sales of four-wheel drive tractors were down… read more

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MACHINERY OUTLOOK

The Wall Street Journal says Deere plans to report its fiscal fourth-quarter results on Wednesday. The company is expected to offer a sales outlook that will set the tone for the farm-machinery industry in 2016. Many analysts see a big stepdown in Deere’s forecast that would signal a prolonged slump for the sector.

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LEASING GLUT

Farmers are increasingly leasing tractors and other equipment but it’s raising the risk of prolonging an equipment glut. Today’s Wall Street Journal looks at farm implement dealers and the slowdown they’re facing.

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DEERE, UAW DEADLINE LOOMS

A dramatic tail-off from record profits a couple of years ago for Deere could set the stage for prolonged, and potentially contentious, labor negotiations once the current 6-year contract expires Thursday.

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DOWNGRADE FOR DEERE

JP Morgan has downgraded its outlook for the stock of John Deere. “We believe it was clear from what we heard that the industry is currently in dire straits with the potential for a liquidity crunch for farmers into 2016,” analyst Ann Duignan wrote in a note to clients. Large used tractor inventories will also… read more

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FARM EQUIPMENT OUTLOOK

For 2015, dealers are now expecting sales to decline 15% year-over-year on average, down from the 11% decline forecast in February. Shortline dealers are the most optimistic, calling for a 10% decline in sales for 2015. John Deere dealers are the least optimistic and are expecting an 18% decline in sales for the year.

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FROM JOLIET TO MEXICO

Caterpillar Inc. says it will move two production lines from its Joliet plant to Mexico in a plan that will result in the loss of 230 jobs at the Illinois site, The Associated Press reported.

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IMPLEMENT SALES DOWN

Retail sales of large farm equipment in the U.S. and Canada continued to unravel.  The Association of Equipment Manufacturers says 2WD tractors sales are off 11%; 4WD tractors off 37%; and combines off 24% in August.

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