Sandhills Global released its Agriculture Equipment reports for the U.S. and Canada.
The U.S. used agricultural equipment markets entered 2026 with inventories under sustained pressure and values showing renewed strength:
U.S. Used Tractors 100 Horsepower and Greater
- Inventory levels for U.S. high‑horsepower tractors have been trending down for eight consecutive months. Inventory levels decreased by 1.12% M/M and 16.99% Y/Y in January. Used tractors 300 horsepower and greater saw the steepest inventory decline at 1.25% M/M, while the biggest annual drop occurred in used 100-to-174-HP tractors, down 24.82% Y/Y.
- Asking values increased by 2.06% M/M, decreased by 1.12% Y/Y, and are trending sideways. Used tractors 300 HP and greater posted both the largest M/M asking value increase, up 2.65%, and the largest annual decline, down 1.26% Y/Y.
- Auction values were up 2.67% M/M and 1.89% Y/Y in January and are trending up. Used tractors 300 HP and greater drove monthly auction value increases with a 3.76% M/M rise, while the largest annual gain occurred in the used 175-to-299-HP tractor category, up 2.8%.
- The EVI spread, which measures the percentage difference between asking and auction values, fell three percentage points to 32% in January, lower than the peak values observed in 2015.
U.S. Used Combines
- Inventory levels of used combines in U.S. markets ticked up 0.92% M/M in January but remained significantly low Y/Y, down 11.43%, and are trending sideways.
- Asking values increased by 1.54% M/M, decreased by 3.82% Y/Y, and are trending sideways.
- Auction values increased by 1.92% M/M and 2.35% Y/Y and are trending up.
- The EVI spread for used combines decreased by one percentage point to 36% in January, still lower than the peak values observed in 2015.
U.S. Used Sprayers
- Inventory levels in this market fell 3.11% M/M and 15.3% Y/Y, maintaining a downward trend.
- Asking values posted a minimal increase of 0.57% M/M but slipped 3.62% Y/Y, moving to a sideways trend.
- Auction values edged down 0.16% M/M and 3.19% Y/Y and are also on a sideways trend.
- The EVI spread for used sprayers fell four percentage points to 39% in January, which is slightly lower than the peak values of 2015.
U.S. Used Planters
- Used planter inventory levels continued to decline in January, falling 5.34% M/M and 22.92% Y/Y, furthering a downward trend.
- Asking values increased by 7.43% M/M and 1.65% Y/Y in January and are trending up.
- Auction values rose 11.68% M/M and 8.05% Y/Y and are also trending up.
- The EVI spread in this market dropped two percentage points to 48% in January, which is lower than the peak values seen in 2015.
U.S. Used Compact and Utility Tractors
- Inventory levels in this market dropped 3.1% M/M and 22.59% Y/Y in January and are trending down. The used 40-to-99-HP tractor category had the largest M/M decrease at 3.17%, while the used less-than-40-HP tractor category posted the largest Y/Y drop at 24.36%.
- Asking values showed modest gains in January, up 1.36% M/M and 1.05% Y/Y, and are trending up. The category leading these changes, used less-than-40-HP tractors, increased by 1.52% M/M and 1.24% Y/Y.
- Auction values also showed modest gains, up 1.75% M/M and 1.54% Y/Y, shifting from a downward trend to a sideways trend in January. The used 40-to-99-HP tractor category drove these changes, with the top M/M rise at 2.03% and the top Y/Y rise at 1.77%.
