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Schnitkey says machinery manufacturing focused on price stability
A farm management specialist at the University of Illinois says current economic conditions are still impacting the ag equipment manufacturing industry.
Gary Schnitkey tells Brownfield equipment dealers are taking steps to stabilize the market for farmers.
“I see that as more of a proactive move,” he says. “They trying to hold the line on prices as much as possible to not have their new equipment inventory out there. That could potentially drag those prices down.”
He says prices are unlikely to change anytime soon.
“New equipment has increased a lot in price and we expect that to continue,” he says. “Used equipment will probably be brought up by those new equipment prices because that will become looked at as an alternative.”
Schnitkey says demand for used ag equipment in 2025 will likely remain steady.
Brownfield interviewed Schnitkey at the recent Purdue Top Farmer Conference.
AUDIO: Gary Schnitkey, University of Illinois
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