Inventories of used agricultural equipment continued to shrink across most major equipment categories in June, according to the latest agricultural equipment market report from Sandhills Global. While tractors, combines, sprayers and forage harvesters all saw declining inventory levels, pricing trends were more mixed, with several segments posting modest gains in asking or auction values despite tighter supply. The data suggests demand for quality used equipment remains steady even as available inventory continues to contract across much of the market.
U.S. Used Tractors 100 Horsepower and Greater
- Inventory levels in the used high-HP tractor market decreased 1.26% month over month and 16.71% year over year in June and have been trending down for 13 consecutive months. Used 100-to-174-HP tractors had the largest inventory changes, down 3.82% M/M and 21.98% Y/Y.
- Asking values increased 0.63% M/M, decreased 0.56% Y/Y, and are trending up. Used 100-to-174-HP tractors had the largest M/M asking value change, up 1.33%, while used 175-to-299-HP tractors posted the largest Y/Y asking value change with a 0.98% decrease.
- Auction values increased 0.56% M/M and 3.74% Y/Y and are trending up. Used 175-to-299-HP tractors had the largest auction value changes, up 1.1% M/M and 4.21% Y/Y.
- The EVI spread was 32%, which is a one-percentage-point increase from May but still lower than the peak values observed in 2015.
U.S. Used Combines
- Used combine inventory levels decreased 1.55% M/M and 10.19% Y/Y in June and are trending sideways.
- Asking values were down 0.51% M/M and 1.28% Y/Y and are trending sideways.
- Auction values decreased 0.51% M/M but increased 0.72% Y/Y and are trending down.
- The EVI spread was 38%, showing no change from May and remaining lower than the peak values seen in 2015.
U.S. Used Sprayers
- Inventory levels of used sprayers fell 4.73% M/M and 21.91% Y/Y in June and have been trending down for seven months in a row.
- Asking values decreased 0.74% M/M and 4.65% Y/Y and are trending down.
- Auction values increased 1.83% M/M but decreased 2.69% Y/Y and are trending down.
- The EVI spread fell from 40% in May to 37% in June, lower than the peak values of 2015.
U.S. Used Planters
- Used planter inventory levels increased 8.19% M/M but fell 21.01% Y/Y in June and have been trending down for eight months.
- Asking values increased 3.6% M/M and 7.41% Y/Y and are trending up.
- Auction values rose 6.86% M/M and 13.32% Y/Y and are trending up.
- The EVI spread remained unchanged from May at 49%, which is lower than the peak values observed in 2015.
U.S. Used Compact and Utility Tractors
- Inventory levels in this market posted a marginal decrease of 0.25% M/M and fell 27.87% Y/Y in June. Inventory levels have been trending down for eight consecutive months. Used tractors with less than 40 HP had the largest M/M inventory change, up 2.16%, and the largest Y/Y inventory change, down 32.86%.
- Asking values decreased 0.7% M/M but rose 0.97% Y/Y. Asking values are trending up, continuing a six-month-long trend. Used tractors with less than 40 HP had the largest M/M asking value change, down 0.76%, while used 40-to-99-HP tractors posted the largest Y/Y asking value change with a 1.19% increase.
- Auction values decreased 1.75% M/M but increased 1.26% Y/Y and are trending sideways. Used 40-to-99-HP tractors had the largest M/M auction value change, down 1.99%, while used tractors with less than 40 HP had the largest Y/Y auction value change, up 1.64%.
U.S. Used Self-Propelled Forage Harvesters
- Inventory levels in this market decreased 2.92% M/M and 4.05% Y/Y in June and are trending sideways.
- Asking values decreased 3.53% M/M and 2.65% Y/Y and are trending sideways.
- Auction values decreased 3.75% M/M but increased 1.34% Y/Y and are trending up.
