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Sales of farm equipment show mixed results in July

Thursday, August 26, 2010

Farm equipment sales have been better so far this year.
Farm equipment sales have been better so far this year.

While sales of farm equipment fell when comparing July of this year with the same month in 2009, they did experience some positive gains during the first seven months of 2010.

According to data from the Association of Equipment Manufacturers, total sales for farm tractors hit 14,179 in July 2010. That is down 3.4 percent when held up against figures from the same month last year. Both four-wheel and two-wheel drive machines experienced declines.

However, the AEM said that year-to-date figures show improvement on 2009. Total sales for farm tractors are up 1.5 percent during the first seven months of 2010. Two-wheel drive models saw sales increase 1.1 percent, while their four-wheel powered counterparts rose 19.3 percent.

Self-propelled combines saw sales increase 4.1 percent when comparing July of this year with the same month in 2009. However, purchases are about even on a year-to-date basis.

A recent report from Creighton University noted that farm equipment sales in a 10-state region remained above growth neutral in July. However, the school's overall rating for the rural economy dropped for the first time in two months.

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