Saturday, February 24, 2024

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

by 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.


CLICK HERE to read more




Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x