Dealer Sentiments: Sales Down, Inventores High

Farm equipment dealers tell Ag Equipment Intelligence and Cleveland Research Co. that sales are down and inventories are high. Take a look at highlights from the April report, which reflects dealer sentiments gathered during the last two weeks of March.

• Ag equipment dealers reported sales were down 13 percent year-over-year on average in March.
   
• Kubota dealers were the only group to forecast a sales increase for 2016, calling for sales to increase by 9 percent.
   
• A net 32 percent of dealers are forecasting a sales decline for the year.
   
• A net 27 percent of dealers categorized their used equipment inventory as “too high,” in line with the prior month.

Dealers report that prices for used large tractors are down 6 percent on average, and prices for used combines are down 11 percent in March. This is a slight improvement from the 14 percent average in February.

Source: Ag Equipment Intelligence S