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AEM says some farmers are replacing older tractors

The Association of Equipment Manufacturers says the sales market for tractors remains generally soft.  Curt Blades is their Senior Vice President. He tells Brownfield, “I wouldn’t say cause for concerns, but it sort of mimmicks what we’ve been hearing in headlines for the overall economic outlook for agriculture in 2024 as well as just maybe some of those demands have been met over the last few years for tractors and combines.”

Blades says May was a strong month for the sale of 100-horsepower and larger tractors. “I would say one month does not a trend make, but for the year, articulated four wheel drive tractors were actually pretty close to flat. We’re actually right at 2% over last year, which I think you call that a replacement market for all practical purposes.”

Blades tells Brownfield the supply of harvesters on dealer lots is improving after the backlog during the pandemic, but he encourages farmers to communicate with their dealers about short- and long-term equipment plans to make sure what they need is ready when they want it.

May sales for four-wheel-drive tractors were up 9.4%.

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