There’s been an increase in farm equipment sales this year.
According to the Association of Equipment Manufacturers, combine sales were up 24 percent last month compared to October of 2009. Tractor sales were up 20 percent in October compared to the same month last year.
Americans who are buying tractors are buying bigger, more powerful ones. Four-wheel drive tractor sales are up nearly 27 percent so far this year, while sales of smaller, two-wheel drive tractors are up about four percent.
In August, executives at John Deere cited “healthy farm cash receipts, solid commodity prices and low interest rates” in predicting sales growth for John Deere in 2010. The estimate: that sales of John Deere farm machinery would increase between five and 10 percent in the United States and Canada this year.