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Machinery Pete: Values Still Strong for Some Farm Equipment
Wisconsin Ag Connection - 02/08/2016

Despite a tough farm economy, one of the nation's leading experts in agricultural equipment trends says it's not all doom and gloom in the iron market right now. Greg Peterson of Machinery Pete told producers during last week's Corn/Soy Expo in Wisconsin Dells that while most equipment sales have been idle in recent months, there has been an uptick in the prices for medium-sized tractors that were made between the 1960s and the 90s.

"We are seeing that tractors between one-to five-years in age are not moving very fast right now, but the older tractors and other rare equipment items are actually selling for higher prices," Peterson said. "A lot of buyers feel that if they can find that certain piece of equipment in good shape, it's better to grab it while they can instead of waiting any longer."

In fact, Peterson is finding that certain feed equipment items, such as forage blowers and grinder-mixers, are going for record-high prices at farm auctions.

Greg also introduced farmers to his new and improved website,, which has added an area for dealer equipment listings this past summer. Powered by Farm Journal Media, the site is close to reaching 100,000 total inventory listings after purchasing from USAgNet/Wisconsin Ag Connection in December.

Looking ahead, Peterson says 2016 will be known as the year of the lease, as many farmers are opting to lease tractors and skid steers instead of purchasing them. But he reminded potential buyers of the old adage 'buy low and sell high' if they can afford it.

"Even though money is tight, there is no better time to buy farm equipment than right now," he noted. "The market will eventually come back and a lot of items like classic tractors or limited models of specialty equipment may be hard to find later."

For farmers and equipment buyers who want to see the recent trends in the farm equipment market, Machinery Pete and Farm Journal have published a new pricing guide which breaks down auction prices for individual items from the past four years. That publication can be found on the website.

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