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July Sales of Farm Tractors Plunge

July Sales of Farm Tractors Plunge
RRN Image/Joe Gangwish

Retail sales of high-horsepower, two-wheel-drive farm tractors in the US and Canada fell 23% in July from a year earlier, reports the Association of Equipment Manufacturers.

Sales of 4WD tractors were flat in low-volume sales, while harvesting combines were up 6%. The lackluster sales report did little to contradict the negative sales outlooks for North America offered by the equipment manufacturers. USDA today forecast better-than-expected crop yields this year. That’s likely to keep commodity prices under pressure and discourage farmers from buying equipment.

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