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Creighton University: Farm equipment sales increase for second straight month

Friday, July 30, 2010

Sales of farm equipment increased again.
Sales of farm equipment increased again.

A report from Creighton University showed that farm equipment sales grew for the third straight month in June.

The school's farm-equipment sales index rose from 50.9 in May to 53.1 the following month. Farmland prices also improved to 54.7, which marks the fifth straight month that they were above growth neutral.

Ernie Goss, who helped establish the index five years ago, said that these improvements were "significant."

"I expect both of these factors to remain healthy in the months ahead," Goss said.

Furthermore, the overall rural economy showed its second consecutive month of being above growth neutral at a mark of 52.6 in June. However, that does represent a decline from May's 54.3. According to the metrics used, a number below 50 indicates contraction.

A recent report from the Association of Equipment Manufacturers, however, showed that total farm tractor sales declined 6.6 percent in June when compared to the same month last year. That month saw sales of 17,016 in 2010.

However, year-to-date sales are up 2.4 percent, rising from 85,016 to 87,053.ADNFCR-2034-ID-19915025-ADNFCR

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