U.S. Farm Tractor, Combine Retail Sales Surge in October

According to the Association of Equipment Manufacturers, total U.S. farm tractor unit retail sales were up 20.3% to 14,648 in October from 12,177 in the same month in 2009. Larger, more powerful four-wheel tractors surged in October, with unit sales up almost 83% compared to last year.

For the year, this segment of the farm machinery market was up 26.9%. Year-to-date farm tractor sales through October were up 4.1% compared to the first 10 months one year ago.

Combine unit retail sales were up from 895 in October 2009 to 1,112 units this year or 24.2%. Year-to-date combine sales increased from 8,342 last year to 8,816 in the current period or 5.7%.

Deere & Company notes in its most recent farm machinery outlook that with support from healthy farm cash receipts, solid commodity prices and low interest rates, industry farm-machinery sales in the United States and Canada are forecast to be up 5 to 10% for the year with much of the strength concentrated in larger equipment.

Thursday, November 11, 2010
Source: Monitor Daily