High Post-pandemic Demand: Farm Machinery Market is Booming

A combination of manufacturer production cuts during the COVID-19 pandemic followed by the rapid run-up in grain market prices have farm machinery prices “on fire,” one market expert says. When the pandemic hit, slowed production caused new and used machinery inventory to decrease, and once grain prices started to climb in the latter 1/3 of 2020, so did buyer interest. It’s fueled rising interest in the auction market, according to Greg “Machinery Pete” Peterson, and that’s got auction sale prices for things like large tractors, sprayers and implements booming. It’s got the current marketplace ranking among the top three high-price time periods for farm machinery and equipment in the last 30 years. See more from Machinery Pete.