Sandhills Global released its Agricultural Market Reports for November.
U.S. Used Tractors 100 Horsepower and Greater
- Inventory levels in this market continued a 7-month-long downward trend in November, with decreases of 3.37% M/M and 14.64% Y/Y. Used tractors 300 horsepower and greater posted the most significant M/M inventory level drop at 3.76%, while used tractors 100 HP to 174 HP showed the steepest annual decline with a 22.11% drop.
- Asking prices decreased by 1.33% M/M and 5.5% Y/Y, continuing a trend for the tenth consecutive month. The largest changes occurred in the used 175 HP to 299 HP tractor category, with asking values down 2.84% M/M and 5.32% Y/Y.
- Auction values have been trending down for six months in a row but edged slightly higher in November with a 0.11% M/M gain. Auction values were 3.78% lower than last year. The used 300 HP and greater tractor category produced the strongest monthly auction value gain at 1.78%, while the used 175 HP to 299 HP tractor segment experienced the greatest annual contraction, down 3.79% Y/Y.
- The EVI spread, which measures the percentage difference between asking and auction values, fell two points to 38%, only marginally lower than the peak values observed in 2015.
U.S. Used Combines
- Inventory levels in the U.S. used combine harvester market have been trending down for five months in a row, with a modest 0.71% M/M increase in November but an 11.01% Y/Y decrease.
- Asking values increased by 2.57% M/M, decreased by 0.57% Y/Y, and are trending sideways.
- Auction values were up 5.01% M/M and 6.34% Y/Y in November and are trending sideways.
- The EVI spread for this market fell three points to 39% in November, which is lower than the peak values seen in 2015.
U.S. Used Sprayers
- Inventory levels in this market increased slightly M/M, by 0.36%, but were 13.7% lower Y/Y. U.S. used sprayer inventory levels are trending sideways.
- Asking values fell 2.32% M/M and 6.94% Y/Y and are trending down.
- Auction values fell 2.61% M/M and 4.94% Y/Y and are also trending down.
- The EVI spread for used sprayers remained at 43% in November, slightly lower than the peak values of 2015.
U.S. Used Planters
- Inventory levels in this market dropped 2.28% M/M and 19.85% Y/Y in November and are trending down.
- Asking values showed modest growth in November, increasing by 0.56% M/M and 1.44% Y/Y, and are trending sideways.
- Auction values rose more sharply than asking values, up 3.74% M/M and 7.88% Y/Y in November, and are trending up.
- The EVI spread in this market fell four points to 52%, which is lower than the peak values observed in 2015.
U.S. Used Compact and Utility Tractors
- Inventory levels in this market declined 2.47% M/M and 22.29% Y/Y in November and are trending downward. The used 40 HP to 99 HP tractor category showed the steepest M/M inventory level decrease at 2.95%, while the most pronounced Y/Y decrease occurred in the used less-than-40-HP tractor category at 23.75%.
- Asking prices posted modest increases of 0.45% M/M and 1.92% Y/Y in November and are trending upward. Used 40 HP to 99 HP tractor asking values increased the most M/M at 0.87%, while the used less-than-40-HP tractor category increased the most Y/Y at 1.2%.
- Auction values increased by 0.64% M/M and 2.59% Y/Y and are trending sideways. The used 40 HP to 99 HP tractor category led in auction value changes with the largest M/M increase at 1.15% and the largest Y/Y increase at 1.53%.
