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Buyers’ market for ag equipment

An industry professional says now is the time for farmers to buy equipment if they need to update.

Rick Vacha, regional sales manager for Ritchie Bros. Auctioneers ag division, tells Brownfield farmers should see the best price advantage on new equipment and higher horsepower tractors.  “I do think a lot of these prices are going to start to steady out and there might not be as good of deals in the future as you’ve seen in the last year or so.”

He says used equipment is starting to move off of dealers’ lots.  “There was an overabundance there for the last three to five years, which now I think is starting to actually work itself out a little bit.”  He says, “There’s still a long ways to go and there’s still a lot out there, but it’s not quite as heavy as it has been.”

Vacha says he has seen some bounce in the market for planters and sprayers, but high horsepower tractors are still challenging to move for dealers.

Ritchie Bros. is the world’s largest industrial auctioneer.

AUDIO: Interview with Rick Vacha