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John Deere powered through recession with efficient products, experts say

Monday, July 11, 2011

High commodity prices have forced farmers to use more efficient equipment to harvest their fields, as any money that can be saved through the use of new technology can be reinvested in the next crop.
High commodity prices have forced farmers to use more efficient equipment to harvest their fields, as any money that can be saved through the use of new technology can be reinvested in the next crop.

While many businesses suffered through the 2008 recession and the years that followed, John Deere was able to power through the financial crisis unscathed, The Wall Street Journal reported.

The lawn care and farm machine company has seen farmers increase their orders to a rate that is higher than it has been since the 1990's, reported the news source.

High commodity prices have forced farmers to use more efficient equipment to harvest their fields, as any money that can be saved through the use of new technology can be reinvested in the next crop, according to The Journal.

"Farmers have been buying tractors in bulk, even though they haven't been planting a terrific amount of additional acres," Adam Fleck, an analyst for research firm Morningstar Inc, told The Journal. "That's a concern to us. How long and how far can [the tractor market] continue to grow?"

New models of the X700 Series tractors and Gator Utility Vehicles are among the new products that farmers have been investing in, according to the John Deere website.  

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