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Russell Nemetz AEM Comments on First Quarter Farm Equipment Results
by Russell Nemetz, click here for bio

Program: Land & Livestock Report
Date: April 19, 2018

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Hi everybody it’s time for your Land and Livestock Report here on the Ag Information Network of the West-I’m Russell Nemetz.

Total U.S. 2-wheel drive tractor sales gained 4 percent for March compared to last year, while 4-wheel-drive tractor sales dropped 5 percent and self-propelled combine sales declined 20 percent, according to the latest sales data from the Association of Equipment Manufacturers (AEM).

First-quarter 2018 U.S. sales were essentially flat for the smaller-size tractors and 100-plus HP 2-wheel drive tractors declined about 5 percent for January-March YTD compared to 2017.

U.S. 4-wheel-drive tractor sales gained about 5 percent for the first quarter, and U.S. sales of self-propelled combines gained 4 percent for January-March YTD compared to 2017.

"As we close the first quarter of 2018, we are still cautiously optimistic for continued growth this year, but it's tempered by uncertainty in the farm economy," said Curt Blades, senior vice president, AG services.

"We are still contending with diplomatic jockeying over steel tariffs and China trade that is causing concern for the agriculture and manufacturing communities. Headwinds also include potential negative changes to the Renewable Fuels Standard. And, overall, we're looking at the USDA forecast of a decline in 2018 net farm profits.

"Many farmers will still need to replace equipment at some point for longer term efficiencies, and we are still hopeful that tax reform could provide a positive stimulus."

That’s your Land and Livestock Report-I’m Russell Nemetz.

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