With our May Market Trends Report, we dig into 2023 agriculture equipment volumes and trends in Canada and the U.S. As is usually the case, Canada sold a larger volume of agricultural equipment than the U.S., with thousands of items sold through dozens of retirement dispersal auctions last month. As a result, you will notice that this month’s report is heavier on Canadian data.
Regardless of the country, the most popular agriculture equipment item sold this year is tractors. If we look at tracked units (see chart below), volumes have remained consistent between February – April 2023 vs. February – April 2022. However, prices in Canada have increased approximately 16% for tracked units, while the U.S. has seen an 11% increase.
For 4WD tractors, it’s a different story. Canadian volumes increased year over year, resulting in a slight decline in median prices. Meanwhile, median prices for 4WD tractors in the U.S. declined by approximately 50%. We also saw declining prices for utility tractors, with volumes increasing.
From February – April 2023 compared to February – April 2022 we have also seen a rise in MFWD tractor volumes, particularly in the U.S. Canadian volumes of MFWD tractors were more consistent with last year—in fact median prices for MFWD tractors in Canada increased 21% vs. last year.
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