The March 2026 Sandhills Global Ag Equipment report highlights a continued contraction in used equipment inventory across the United States, extending multi-month downward trends in several key categories. While supply is tightening significantly — particularly in high-horsepower tractors, sprayers and compact tractors — pricing has not followed with sharp increases. Instead, both asking and auction values are largely stabilizing, reflecting a market that is adjusting to reduced inventory without significant volatility. These dynamics suggest a cautious but steady environment as buyers and sellers navigate shifting supply levels and evolving demand conditions.
U.S. Used Tractors 100 Horsepower and Greater
- Inventory levels in the U.S. used high-horsepower tractor market are trending down and have been trending down for 10 months. In March, inventory decreased 1.19% M/M and 18.44% Y/Y. Used tractors 100 to 174 HP posted the largest inventory decreases, down 2.14% M/M and 28.2% Y/Y.
- Asking values decreased 0.68% M/M and 2.25% Y/Y in March and are trending sideways. Used tractors 300 HP and greater posted the largest asking value decreases, down 1.24% M/M and 3.22% Y/Y.
- Auction values decreased 1.01% M/M in March but rose 0.35% Y/Y and are trending sideways. Used tractors 300 HP and greater posted the largest M/M auction value decrease at 1.91%, while used tractors 175 to 299 HP exhibited the largest Y/Y increase at 3.3%.
- The EVI spread, which measures the percentage difference between asking and auction values, remained unchanged from the previous month at 32%. This is lower than the peak values observed in 2015.
U.S. Used Combines
- S. used combine harvester inventory levels decreased 1% M/M and 10.69% Y/Y in March and are trending down.
- Asking values decreased 0.87% M/M and 1.5% Y/Y and are trending sideways.
- Auction values decreased 1.14% M/M in March but increased 2.26% Y/Y. Auction values are trending up.
- The EVI spread increased one percentage point from the previous month to 37%. This is lower than the peak values observed in 2015.
U.S. Used Sprayers
- Inventory levels of U.S. used sprayers decreased 8.55% M/M and 21.98% Y/Y in March and are trending down.
- Asking values decreased 0.45% M/M and 2.38% Y/Y in March and are trending sideways.
- Auction values decreased 1.35% M/M and 1.9% Y/Y in March and are trending sideways.
- The EVI spread increased one percentage point from the previous month to 38%. This is lower than the peak values observed in 2015.
U.S. Used Planters
- S. used planter inventory levels fell 4.47% M/M and 24.94% Y/Y in March and are trending down. Inventory levels in this market have been trending down for five consecutive months.
- Asking values decreased 0.12% M/M in March but increased 3.09% Y/Y and are trending sideways.
- Auction values slipped 0.12% M/M in March but increased 7.58% Y/Y and are trending sideways.
The EVI spread remained unchanged from the previous month at 50%. This is lower than the peak values observed in 2015.
U.S. Used Compact and Utility Tractors
- Inventory levels in this market fell 6.03% M/M and 27.67% Y/Y in March and are trending down. Inventory levels have been trending down for five consecutive months. The used less-than-40-HP tractor category had the greatest influence on those changes, with inventory down 8.64% M/M and 30.2% Y/Y.
- Asking values decreased 0.51% M/M in March but were up 1.4% Y/Y and are trending up. Used tractors 40 to 99 HP posted the largest M/M asking value decrease at 0.57%, while the same category posted the largest Y/Y increase at 1.73%.
Auction values decreased 1.96% M/M in March but climbed 2.29% Y/Y and are trending sideways. Used tractors 40 to 99 HP posted the largest auction value changes, down 2.59% M/M and up 2.75% Y/Y.
