Sandhills Global released its May 2025 Agriculture Equipment report, finding that inventory, asking and auction values for various equipment types are trending down.
U.S. Used Tractors 100 Horsepower and Greater
Inventory levels of U.S. used tractors 100 horsepower and greater declined 2.5% month over month and 0.66% year over year in May, following a downward trend. The used 100- to 174-HP tractor category had the largest impact on this market, with inventory falling 4.8% month over month and 9.59% year over year.
Asking values decreased 1.88% month over month and 6.41% year over year and are trending downward. The used high-horsepower tractor category (tractors 300 HP and greater) showed both the largest month over month asking value decrease, down 2.94%, and the largest year over year decrease, down 6.63%.
Despite auction values falling 2.09% month over month and 4.1% year over year in May, they are on a sideways trend. Sandhills observed the largest month over month decrease in the used high-HP tractor category, down 3.21%, and the most significant year over year decrease in the used 175- to 299-HP tractor category, down 3.84%.
The EVI spread, which measures the percentage difference between asking and auction values, maintained at 38%, still slightly lower than peak values observed in 2015.
U.S. Used Combines
Inventory levels of used combine harvesters decreased by 0.11% month over month in May and were down 5.54% compared to year-ago levels. Despite the decline, this market is trending up.
Asking values maintained an upward trend, rising 0.95% month over month and 0.15% year over year in May.
Auction values continued a five-month upward trend in May, increasing 2.43% month over month and 7.71% year over year.
The EVI spread continued to fall, reaching 42%, which is lower than peak values observed in 2015.
U.S. Used Sprayers
Inventory levels of U.S. used sprayers on Sandhill platforms have maintained a downward trend. In May, inventory decreased by 3.34% month over month and 5.22% year over year.
Asking values for used sprayers are trending downward, with decreases of 2.09% month over month and 5.79% year over year in May.
Auction values for used sprayers are following a steady trend but dipped 2.26% month over month and 3.7% year over year in May.
The EVI spread is 43%, only slightly lower than peak values from 2015.
U.S. Used Planters
Inventory levels of U.S. used planters on Sandhills platforms are trending downward. In May, inventory decreased by 3.7% month over month and 13.49% year over year.
Asking values in this market have maintained a steady trend. However, asking values decreased by 3.54% month over month and 2.04% year over year in May.
Auction values are also trending sideways, decreasing by 6.13% month over month but increasing by 6.70% year over year in May.
The EVI spread increased to 55%, still lower than peak values observed in 2015.
U.S. Used Compact and Utility Tractors
Inventory levels of U.S. used compact and utility tractors on Sandhills platforms have been trending downward for seven months in a row. Inventory levels dropped 3.8% month over month and 24.06% year over year in May. The used less-than-40-HP tractor category exerted the greatest influence on inventory levels, with decreases of 5.62% month over month and 27.74% year over year.
Asking values continued an upward trend, posting a slight 0.11% month over month increase and 1.18% year over year decrease. The used 40- to 99-HP tractor category showed the largest year over year decrease at 3.26%.
Auction values showed a marginal 0.4% month over month decrease and a 0.3% year over year increase and are trending sideways. The used less-than-40-horsepower tractor category had the largest year over year decrease at 1.69%.
Sandhills Global also released its May 2025 Agriculture Equipment report for Canada.
