October North American Combine Harvesters Continue Growth

Combine harvester sales report double-digit gains in October for both the U.S. and Canadian markets, while total tractors fell in both countries according to the latest data from the Association of Equipment Manufacturers (AEM).

Total U.S. ag equipment unit sales stayed above the 5-year average for the third month since April 2022. U.S. total farm tractor sales fell 10.8 percent for the month of October compared to 2021, being dragged down by a 23.6 percent drop in the sub-40hp category. U.S. self-propelled combine sales for the month grew 77.4 percent to 1,678 units out the door. All ag tractor segments above 40hp grew as well, with mid-range 40-100hp 2WD units gaining 3.2 percent, 100+hp units up 25.5 percent, and 4WD units up 9.4 percent. Total farm tractor sales are down 14.0 percent year-to-date, a slight improvement from the month prior, while combine harvester unit sales growth streak, now at five months, have the segment up 16.2 percent year-to-date, a big, positive change.

In Canada, only two segments showed growth: 4WD tractors (up 19.2 percent) and combine harvesters (up 32.6 percent). Overall unit sales in tractors were down 9.6 percent, with the biggest drag coming from mid-range, 40-100hp units, down 12.9 percent. Unit sales in 2WD segments fell 10.1 percent overall with all segments falling. Year-to-date farm tractor unit sales were down 6.6 percent in Canada, while harvesters are finally positive for the year, now up 7.3 percent at 1,734 units sold.

“With all the new technology available, we’re happy to see farmers being able to take advantage of the technology on modern harvesters and tractors,” said Curt Blades, senior vice president, industry sectors and product leadership at the Association of Equipment Manufacturers. “The drop in the U.S. sub-40 horsepower segment continues the trend we’ve been expecting given the significant growth in that segment driven by consumer spending changes during the pandemic. Despite the year over year reduction in sales to days, the small tractor sales remain above 5-year average”

The full reports can be found in the Market Data section of the AEM website under Ag Tractor and Combine Reports.

U.S.:  https://www.aem.org/market-data/statistics/us-ag-tractor-and-combine-reports/

Canada:  https://www.aem.org/market-data/statistics/canadian-ag-tractor-combine-reports/

Related articles

Thursday and Friday, November 24th and 25th, 2022 Programs

***No video interviews for our holiday programs on Thursday and Friday. Markets were open for a shortened session on Friday as well. Below are links to our Thursday and Friday episodes with various interviews...

Biden Wants Rail Unions, Freight Railroads to Settle Contract Dispute Themselves

President Biden wants rail unions and freight railroads to resolve their long-running contract dispute themselves, without saying publicly if he’ll intervene or ask Congress to do so, barring an agreement. Biden Press Secretary Karine Jean-Pierre...

Wednesday, November 23rd, 2022 Video and Audio Program

Overall, trade on Wednesday was fairly quiet headed into the Thanksgiving holiday. We did find some late buying interest in grains on the session and in turn, slipped lower in cattle and hogs on...

Farm State Senators Vent Over High Diesel Prices 

High input prices helped fuel debate over the next farm bill at a recent Senate Ag Committee hearing. High diesel prices mean high food prices, as farmers and truckers struggle to pay an average...

USDA Invites Producers to Respond Online to the 2022 Census of Agriculture

The USDA mailed survey codes to all known U.S. ag producers with the invitation to respond online to the 2022 Census of Agriculture at agcounts.usda.gov. The ag census is the nation’s only comprehensive and impartial...

Latest articles

%d bloggers like this: