The cost of farm equipment continues to soar, but it might not be the tractors, combines, and harvesters you expect.
The newest tractors and combines come with all sorts of bells and whistles like GPS, automation, remote operation, sensors, and diagnostics. But as many in the farm belt already know, the real demand is for older used farm equipment.
Many farmers are ditching new high-tech tractors in favor of older tractors with less technology that are easier to work on and faster to repair.
For example, John Deere equipped its newest tractors with sophisticated technology but didn’t give farmers the tools needed to fix their own equipment, setting off a debate over “right-to-repair”. Deere finally caved this year by giving farmers the tools they needed.
Another thing to keep an eye on is these farm equipment manufacturers force EV on farmers. Have a friend that has firsthand knowledge of “test farmers” being force fed EV combines…I’m sure that is going to work well when harvest time comes, and batteries are draining before the day is done…
Material prepared by Sherman Portfolios, LLC.