FEBRUARY U.S. AG EQUIPMENT SALES REMAIN POSITIVE OVERALL
Mar. 25, 2019
Source: Assn of Equipment Manufacturers news release
Milwaukee, Wisconsin -- U.S. sales of ag tractors and combines remained in the plus column for February, according to the latest sales data from the Assn. of Equipment Manufacturers (AEM).
Total U.S. February 2WD tractor sales grew 17.3% compared to February 2018, led by under 40 horsepower machines with a 24.6% gain and a 7.1% gain for 40-100 horsepower 2WD tractors, while 100-plus horsepower 2WD tractors recorded a drop of 2.2%.
February U.S. sales of 4WD tractors gained 29.5% compared to last year and U.S. self-propelled combine sales for February grew 21.5%.
Canada did not fare as well, with February gains only for self-propelled combines (up 25%) and for under 40 horsepower 2WD tractors (up 23%).
"We're encouraged to hear USDA estimates that net farm income is expected to increase slightly in 2019 after last year's declines. Hopefully that signifies some optimism in the U.S. as the year moves forward. And we remain concerned about some of the Canadian numbers in February's report," said Curt Blades, AEM senior vice president, AG services.
"We hope that the new U.S. farm bill will provide more certainty for farmers as they plan ahead. However, we are still facing a lack of real, sustained progress on trade agreements and ending retaliatory tariffs."