Saturday, February 24, 2024

Lenders Fuel Hopes that Worst is Over for US Ag Machinery Market

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Agrimoney.com reports:  

A university survey flashed another signal that the downturn in the US farm equipment market is at least slowing, even as it reported a 40th successive month of decline in the country's farmland prices.

A farm machinery sales index compiled by Creighton University, from a survey of lenders in major US agricultural states, came in at 22.0 for this month.

While a “still very weak” reading, and well below the 50.0 which indicates a neutral market, the figure was the highest in more than two years – and well above the figure of 6.7 reported for March last year, a low for the survey.

“This markets the fifth straight month that the reading has advanced,” Creighton University said.

 

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Source:  Agrimoney.com

 

 

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