Agriculture equipment prices are up approximately 14% year over year
In our May Market Trends Report we take a deep dive into the agriculture industry and rising farm equipment prices and showcase trends in tractor, combine, header, sprayer, and air drill sales. The May report also takes a look at trends in truck tractor, earthmoving, and aerial equipment sales. As the report sums up, despite decreasing inflation rates for most U.S. and Canada price indexes, pricing is still up year over year.
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Rising agriculture equipment prices: tractors
As we look to our main feature this month, we are seeing pricing strength for agricultural equipment this year, particularly in Canada. Looking at tractor sales in 2022, median prices are up across the board, with the biggest price inflation for tracked and 4WD units. In Canada we’ve sold more than 25 tracked tractors in 2022, many of which were late model-units resulting in an approximately 18% median price increase from last year. Meanwhile, pricing for 4WD units in the U.S. is up approximately 76% over 2021.
A look at combines, sprayers, air drills and more
For combines and headers, we have seen relatively flat pricing year over year, with the most popular combine models being all John Deere units: the S680, S690, and 9600. For sprayers, air drills, and seeders we have seen a moderate increase in pricing this year, despite units being older and having more hours than units sold in 2021.
Prices show strengthening for used agriculture equipment
As the report estimates, overall, for the 3 months ending April, prices for used agriculture equipment increased 14% (± 1.5%) compared to the same time frame last year.
Get the full May Market Trends Report for more on farm equipment and other asset trends
Get the full look at farm equipment and other equipment trends in the May edition of the report, and see detailed pricing trends and stats for:
- Tracked Tractors
- MFWD Tractors
- 4WD Tractors
- Utility Tractors
- Combines
- Headers
- Sprayers
- Air Drills & Seeders
- Discs
- Harrows & Packers