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Balanced Reporting. Trusted Insights.
Thursday, May 25, 2023
Two more equipment companies have inked right-to-repair memorandums of understanding with the American Farm Bureau Federation, bringing about 70% of the ag equipment sold in the U.S. under the same umbrella of agreement.
Deere and Co. said Friday its net income jumped 117% in the latest quarter compared to the same period a year earlier, and the farm equipment giant raised its earnings estimate for fiscal 2023.
The Association of Equipment Manufacturers' January 2023 ag tractor sales data shows a steady decline of U.S. ag tractor sales, while Canada experienced sales growth in all segments.
A representative of the nation’s largest farm equipment companies is pointing to supply chain challenges as a driving force behind issues getting new tractors into the hands of American producers.
A clash between a right-to-repair advocate and an equipment dealership owner at a congressional hearing Wednesday was indicative of the internal battles legislators will wage as they consider measures that would require machinery manufacturers to provide software, parts and tools to customers looking to make their own repairs.
Farmers' outlook improved modestly last month ahead of the Russian invasion of Ukraine, but growers remain worried about soaring input costs, according to a monthly survey.
High demand for farm equipment and issues in the supply chain mean that orders for new machinery from a number of companies are taking months to fill and prices for used equipment have gone up.
Leading farm equipment manufacturers are trying to make data collection and sharing easier with plans to launch a new interface allowing real-time data exchanges between brands.
