(SPRINGFIELD) The sales of new tractors and combines were down significantly last month, which rounds out a soft market year in 2024 for ag equipment. Data from the Association of Equipment Manufacturers (AEM) shows sales of ag tractors in the U.S. fell 11.3% from December 2023 to December 2024, plus combine sales dropped 26.4% in the same period. Four-wheel-drive tractors say the biggest drop in December, but ended up about 5% lower for the year, while self-propelled combine sales fell 24% in 2024. Industry officials say in addition to high interest rates, the “storm clouds” over the ag industry, albeit farm bill delays, weather, lower commodity prices, trade concerns, and questions about biofuels, are all contributing to the volatility in the ag equipment market.
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