In mid-October Farm Journal’s Pulse poll asked farmers, “When will you make the next major machinery purchase on your operation?” With more than 1,000 responses, 62% said 2018 or later. Only 11% responded they will make a major machinery purchase yet in 2016.
“I think farmers are being situationally very aggressive used-equipment buyers; there are some very good buying opportunities out there,” says Greg Peterson, founder of Machinery Pete. “As I travel the country, it’s not uncommon to hear the ‘pull in the reins’ theme verbalized. But as a good example, I just heard from an eastern North Dakota farmer dealing with a very wet harvest who just purchased a new grain cart and tractor, both with tracks.”