FYI: Are Farmers Looking to Buy New Equipment? Used Equipment? Or Both?

To buy used or buy new, that is the question
Farm Journal’s Equipment/Machinery Study took a look at purchase intentions and interests in 2021. Farmers trended heavily toward used equipment and machinery and Machinery Pete’s Greg Peterson has reported on some of the hottest prices he’s seen since 2013. But don’t take your eyes off the new equipment and machinery markets. Farm Journal also found that nearly 23% are looking to buy new in 2021. To put that in better perspective, the Association of Equipment Manufacturers (AEM) reported that while total farm tractor unit sales were down in second quarter compared to the soaring heights of first quarter, 2021 year-to-date sales are still up 16.6% over last year.

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