The latest October data from Sandhills Global’s U.S. Agricultural Market Reports points to ongoing softening across most major used equipment categories, with inventories and values declining month-over-month and year-over-year in several segments.
U.S. Used Tractors 100 Horsepower and Greater
- Inventory levels in this market fell 1.19% M/M and 11.47% Y/Y in October and are trending downward for the sixth month in a row. The used 175 HP to 299 HP tractor category decreased the most M/M, by 2.26%, while the used 100 HP to 174 HP tractor category decreased the most Y/Y, by 19.56%.
- Asking prices in this market have been trending down for nine months, decreasing 1.48% M/M and 5.72% Y/Y in October. The largest changes occurred in the used 300 HP and greater tractor category, with asking prices down 2.28% M/M and 6.28% Y/Y.
- Auction values have been trending down for six months, decreasing 1.62% M/M and 3.58% Y/Y in October. The used 300 HP and greater tractor category posted the largest auction value changes as well, down 2.42% M/M and 3.86% Y/Y.
- The EVI spread, which measures the percentage difference between asking and auction values, remained unchanged since September at 40%, close to the peak values observed in 2015.
U.S. Used Combines
- Used combine harvester inventory levels decreased by 4.82% M/M and 10.52% Y/Y in October and are trending down.
- Asking values decreased by 4.14% M/M and 5.1% Y/Y and are trending down.
- Auction values fell 3.94% M/M in October but were up 1.89% Y/Y, shifting from a sideways trend in September to a downward trend in October.
- The EVI spread for this market dropped by one point to 42%, which is lower than the peak values of 2015.
U.S. Used Sprayers
- Used sprayer inventory levels increased by 1.42% M/M in October, decreased by 13.34% Y/Y, and maintained a sideways trend.
- Asking prices ticked up 0.86% M/M, decreased by 5.64% Y/Y, and are trending sideways.
- Auction values inched up 0.74% M/M in October and posted a marginal Y/Y decrease of 0.17%. Auction values in this market moved from a downward trend in September to a sideways trend in October.
- The EVI spread for used sprayers remained at 43%, which is slightly lower than the peak values seen in 2015.
U.S. Used Planters
- Inventory levels in this market remained nearly flat in October, with a 0.03% M/M decrease, and were 19.32% lower than year-ago levels. Used planter inventory levels are trending sideways.
- Asking prices were down 2.31% M/M, up 0.15% Y/Y, and are trending sideways.
- Auction values were down 6.54% M/M, up 4.8% Y/Y, and are trending up.
- The EVI spread for used planters rose six points in October to 56%. However, this figure is still lower than the peak values of 2015.
U.S. Used Compact and Utility Tractors
- Inventory levels of used compact and utility tractors increased by 1.63% M/M in October, decreased by 21.84% Y/Y, and are trending sideways. The used less-than-40-HP tractor category posted the largest changes, with inventory levels up 2.52% M/M and down 24.06% Y/Y.
- Asking values in this market are trending sideways, with a 0.11% M/M decrease and a 0.92% Y/Y increase in October. The used sub-40-HP tractor category led in asking value changes as well, down 0.64% M/M and 1.43% Y/Y.
- Auction values posted modest changes as well in October, down 0.41% M/M and up 1.1% Y/Y, and are trending sideways. The sub-40-HP tractor category had the largest M/M auction value decrease at 1.3% and the largest Y/Y decrease at 1.03%.
