Viewing a thread - Used Equipment Market (2025)

unruhfarms

Posted 9/27/2024 16:39 (#10906658) Subject: Used Equipment Market

East Central Mississippi

What are your thoughts and what are you seeing on late model used equipment values? Has the market bottomed? Sprayers, combines, tractors, planters… especially Deere. I want to buy when there’s blood in the streets. dittfarms

Posted 9/27/2024 16:43 (#10906661 - in reply to #10906658) Subject: RE: Used Equipment Market

ottertail co mn

I think many are doing as you are.

Heard a few items are soft. Good stuff is still good

Excalibur

Posted 9/27/2024 16:53 (#10906675 - in reply to #10906658) Subject: RE: Used Equipment Market

SC WI

Just my opinion there is good demand for things I want/need to upgrade. The stuff that I don’t need is dirt cheap.

I don’t think the bottom is going to fall out of good quality equipment.

ETA: In the market for a combine upgrade in the next couple years and they seem to be decent demand yet. The value equipment is the higher houred stuff.

Edited by Excalibur 9/27/2024 16:56

FarmingMo

Posted 9/27/2024 17:07 (#10906691 - in reply to #10906658) Subject: RE: Used Equipment Market

NeMO

Late model stuff has fallen a lot. Bottom? No idea Dan Loehr

Posted 9/27/2024 17:54 (#10906731 - in reply to #10906658) Subject: RE: Used Equipment Market

Holland, Indiana (SW IN)

Looking to upgrade to some late model Red stuff here
Our 2013-16 equipment is easily doing the job —we’re bottom feeding vultures —we at most just a pass with a VT tool and always have a spare

Was told don’t make a dealer an offer even if it seems stupid cheap— you might own it - plenty of time and been patient so far auctions should be interesting on less than 1000 hr stuff
Interest rates down but a $300K piece on a dealers lot still takes $30K plus to keep it a year
—yearly depreciation interest, taxes, insurance, upkeep— even washing nothing is free

Dan

Edited by Dan Loehr 9/27/2024 17:58

johnwayne360

Posted 9/27/2024 18:11 (#10906747 - in reply to #10906658) Subject: RE: Used Equipment Market

near dyersville iowa

i dont know about the machinery market. But in most down markets, there are secondary buyers. The first tier of buyers buy at the highs. Market comes down, and the second tier buyers come in and grab some deals. When the second tier runs out, then the market is in a free fall. The question is, will there be more second tier buyers than machinery, or more machinery than second tier buyers? senorthdakota

Posted 9/27/2024 18:14 (#10906752 - in reply to #10906747) Subject: RE: Used Equipment Market

I would think after the 1st of the year may soften some more... unruhfarms

Posted 9/27/2024 18:17 (#10906755 - in reply to #10906752) Subject: RE: Used Equipment Market

East Central Mississippi

Seems like the BIG stuff is cheap! X9’s and 9RX’s Indrtfmr

Posted 9/27/2024 19:02 (#10906794 - in reply to #10906755) Subject: RE: Used Equipment Market

NW in.

The trouble with that stuff is you have a very limited market for that size equipment. jd8850

Posted 9/27/2024 19:30 (#10906830 - in reply to #10906794) Subject: RE: Used Equipment Market

Roseglen, North Dakota

2 lines of thot.
1..Someone said good quality equipment will hold well. Unless you're a Deere basher I surely thot 1 and 2 year old RX tractors,
X9, 770 780 790 combines are good quality equipment. I surely wdnt say they're "holding their value"
2. Was mentioned dealers won't put as much late model low hour equipment on auction
There's a reason for that. They won't have the inventory to put on auction because:
Farmers won't pay what dealers want to boot
Some dealers are not even giving to boot prices on 1 year old stuff because they don't want to torque the farmer.
They just say, Were not interested in trading these items in..
These commodity prices have gotten everyone's attention- dealers, farmer, bankers.

Edited by jd8850 9/27/2024 19:33

Big Ben

Posted 9/27/2024 20:33 (#10906918 - in reply to #10906658) Subject: RE: Used Equipment Market

Columbia Basin, Ephrata, WA

There won’t be blood in the streets until all of you lurking buyers run out. When prices have been cheap and bankers have been tense for a few years, and you guys with cash waiting for a deal have already bought, then we get to the blood in the street prices. We aren’t there yet, probably won’t be for at least another year.

Edited by Big Ben 9/27/2024 20:59

johnwayne360

Posted 9/27/2024 20:35 (#10906921 - in reply to #10906918) Subject: RE: Used Equipment Market

near dyersville iowa

You said it better than I did Joe R

Posted 9/27/2024 20:44 (#10906935 - in reply to #10906658) Subject: RE: Used Equipment Market

Bottom is in for the near term. Record crops with prices historically above avg should create a push higher in the machinery market as producers are going to be eager to find a way to get rid of the big cash profit made as we enter the end of the year. holi583

Posted 9/27/2024 20:59 (#10906961 - in reply to #10906658) Subject: RE: Used Equipment Market

South Central, Minnesota

10.65 beans and 4.18 does to equal “blood in the streets” add insurance safety net and the yields we been hearing about= producers spending money

Edited by holi583 9/27/2024 21:01

Earl butz

Posted 9/27/2024 21:06 (#10906968 - in reply to #10906935) Subject: RE: Used Equipment Market

Central iowa

I went to alot of auctions this summer and I would have hated to be retiring with a line of late model equipment. Most things couldn't break 100k. Good way old reliable stuff is still holding strong for the most part but if you watch enough auctions there are deals to be had there too. ObSeRv

Posted 9/27/2024 21:16 (#10906987 - in reply to #10906935) Subject: RE: Used Equipment Market

Keep banging that drum…

Obviously all other equipment dealers don’t believe your thoughts.

Joe R

Posted 9/27/2024 21:18 (#10906992 - in reply to #10906961) Subject: RE: Used Equipment Market

Bingo. It’s obviously not the gravy train of good yields and $7 corn like accustomed to, but still very profitable levels. Replacing every vehicle, SxS, and lawnmower may be on hold for a few months but this is far from poverty that some want you to believe. Joe R

Posted 9/27/2024 21:27 (#10907000 - in reply to #10906987) Subject: RE: Used Equipment Market

They allowed the big shots too much money on their trade in MUD deals to keep moving new stuff to passify the mothership, and now are figuring out that not everyone wants a used class 9 combine that’s never had the oil changed and current heads won’t even fit it. Gotta feel sorry for them*****

Edited by Joe R 9/27/2024 21:37

ObSeRv

Posted 9/27/2024 21:42 (#10907032 - in reply to #10907000) Subject: RE: Used Equipment Market

Lot more equipment has softened than class 9.

Educate yourself more

DeereMan97

Posted 9/27/2024 21:46 (#10907039 - in reply to #10906658) Subject: RE: Used Equipment Market

NWMO

We picked this up for under $100k with 5300 hours on it. It could get softer, but I wouldn’t bank on it, it’s already pretty much a marshmallow on late model stuff

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tmrand

Posted 9/27/2024 21:54 (#10907050 - in reply to #10906731) Subject: RE: Used Equipment Market

Southeast Colorado

Bottom feeding vulture??...........haha!.......you have NO idea!!!

Crowcrick

Posted 9/27/2024 22:03 (#10907064 - in reply to #10907039) Subject: RE: Used Equipment Market

What year is it 2010 or 2011?

Edited by Crowcrick 9/28/2024 04:31

Reality speaks

Posted 9/27/2024 22:27 (#10907099 - in reply to #10906658) Subject: RE: Used Equipment Market

n. Illinois

we are no where near that yet. patience is the key do not buy too soon. jdironman

Posted 9/27/2024 22:35 (#10907107 - in reply to #10906830) Subject: RE: Used Equipment Market

Nw Iowa

Have been saying same, late model, really low hr equipment will not keep getting dumped. Both supply ( fresh trade ins) and dealers ability to keep taking pain on that level will dry up. I really don’t think well cared for retirements have gotten hammered that bad. Junk always falls fastest in a down market. This summer you have been able to buy 200 hr 8R’s for approx 60% of net. How much cheaper do you want? You are back to pre Covid prices when crop prices were worse than they are now. Usually cheapest is when everybody thinks it will get cheaper, just like highest was when dealers said you couldn’t get something for over a yr out. . I am not saying dealer prices won’t adjust but I don’t think auctions will get much cheaper on this very late model low hr stuff. Excalibur

Posted 9/27/2024 23:49 (#10907147 - in reply to #10907107) Subject: RE: Used Equipment Market

SC WI

Still a $325k tractor, some can swing it but most secondary owners don’t really need to.

I am in the market for 7-15 year old stuff, those seem to be holding firm in price.

Little papa

Posted 9/28/2024 06:00 (#10907216 - in reply to #10906935) Subject: RE: Used Equipment Market

Hooker Twp,Ne

Wow. You speak out of your mouth many ways. Bottom in-Record crops- producer selling crop with big cash profits. This makes no sense. How can bottom be in with record crops and producer selling his crop this year. Won’t be anything left for next year to sell of 24 crop. Just shows you know not what you speak of. dogg4585

Posted 9/28/2024 06:34 (#10907245 - in reply to #10906961) Subject: RE: Used Equipment Market

sc ks

Multiply those numbers by 75% to get the price in pre covid terms. 25% currency devaluation has made our line of work pretty tough. Paid $850 to get a 15ft hydraulic hose made yesterday and lost 5 gal of oil for another $120. Maintaining old stuff is getting brutal. Deere6

Posted 9/28/2024 07:12 (#10907290 - in reply to #10907245) Subject: RE: Used Equipment Market

SE IL

It’s going to make some pretty decent things go to the boneyard due to repairs being too expensive. However if a person is able or willing to 1) fix things themselves, and 2) has time to order and wait on parts many things can be done for much less. Ordered a pto engage switch and hoist control for a truck the other day. Dealers were $160 and $240, ordered online will be a 3 day wait but only $65. I hate that things are going this way because we need to keep the local stores but a guy can only take so much. jdironman

Posted 9/28/2024 07:25 (#10907301 - in reply to #10907147) Subject: RE: Used Equipment Market

Nw Iowa

Agree Jrditchdigger

Posted 9/28/2024 07:37 (#10907314 - in reply to #10906658) Subject: RE: Used Equipment Market

Southern MN

Dealers have put their heads down plowed through a lot of used. Have to assume new sales and thus trade ins will be way down as well. If grain prices hold where they are now the lows may be in already. Unless it gets so bad that producers start failing and liquidating bringing a lot more inventory to market don’t see where farther depreciation is going to come from. As the posts on here indicate most are still looking to buy rather than sell. Believe I heard JD put on a 3% price increase recently. Watched a very similar combine to the one I am using now bring 220k less than what I paid for same combine new last year, and we bought that 1 for 60k less because it was so far behind being manufactured that it didn’t have the price increases on it. So I would say that there has been a fair amount of bloodletting that as already happened, although the combine market always seems to be the quickest and deepest. As we get into fall am realizing we need to make more purchases on top of the most spending I have ever done in a 1 and 2 year period, am guessing the things we “need” have already bottomed. ahay68979

Posted 9/28/2024 07:41 (#10907322 - in reply to #10907099) Subject: RE: Used Equipment Market

Saronville NE

Thinking softer after first of yr. May try update combines if so. But that still means a 10 yr old machine with half hours I have now.

Bankers here say lots of guys with no corn sold and held old too long. So things are tight.

senodak

Posted 9/28/2024 07:42 (#10907323 - in reply to #10906830) Subject: RE: Used Equipment Market

Auction bidding is weaker than Covid but still strong with plenty of bidders. Back in the 2015 post drought boom era there were lots of auctions that struggled to get bidders at all on the big items. Deere6

Posted 9/28/2024 08:18 (#10907370 - in reply to #10907314) Subject: RE: Used Equipment Market

SE IL

I think you are spot on here. UNL96

Posted 9/28/2024 08:20 (#10907371 - in reply to #10906658) Subject: RE: Used Equipment Market

I don’t know if it has bottomed yet or not but what I do know is that significantly less new equipment was produced in the 2020+ run up vs the 2012+ run up. The massive profits the ag manufacturers made 2020+ was driven more by price increases than volume increases. The dealers simply won’t have as many machines to move. Yes they are higher $/machine but significantly fewer machines to move.

Whether we’ve hit the bottom already or the bottom is still coming, I believe it will turn more quickly than the last time. Also I think dealers moved more quickly to cut inventories than in the past which caused a sharp drop in prices, but will lead to a faster rise in prices also.

Edited by UNL96 9/28/2024 08:21

spidermite

Posted 9/28/2024 08:44 (#10907409 - in reply to #10907064) Subject: RE: Used Equipment Market

2010 the grill is same as 8x30

jdironman

Posted 9/28/2024 09:18 (#10907445 - in reply to #10907323) Subject: RE: Used Equipment Market

Nw Iowa

Auction prices may get cheaper but so will quality. In my 40 plus years of watching machinery trends, I have never seen the amount of low hr tractors ( 150-400 hrs)and combines being sold at auction. So you may see a 2022 JD R model sell cheaper next year but I bet it will have a lot more hrs. So price went down, but so did value of purchased because of use. . If you had a bumper crop this year, I bet you are still in the market for some equipment, but probably not new. So if you were looking to buy a 200 hr tractor at auction, I think that ship has already sailed or is starting to pull up anchors. whiterock91

Posted 9/28/2024 12:12 (#10907626 - in reply to #10907050) Subject: RE: Used Equipment Market

Alpena MI

Bottom feeding eagle maybe…his equipment isn’t brand new, it’s just not as dead as yours and mine. So he’s still using carrion but he doesn’t think he’s top dog because he didn’t kill the prey himself.

10k hours is just getting broke in here. Gotta have somebody to put hours on the equipment between new and the 5th owner. Lol

Edited by whiterock91 9/28/2024 12:17

Dan Loehr

Posted 9/28/2024 17:13 (#10907869 - in reply to #10907050) Subject: RE: Used Equipment Market

Holland, Indiana (SW IN)

Depends on where you have come from—I remember the years we had 4 tractors hope to get one started in the morning— set of jumper cables made out of welding leads
Don’t kill your tractor — no cell phones
Batteries were more than we could afford
Out of 4 tractors hope 2 were moving when finished planting—
Harvest 2 combines— my favorite saying then “welder and a hammer I can fix almost anything with nothing”

Been quite a few years— bet everything you have and all the money could borrow to put out a crop

The bottom we’re feeding off of just moved up a little— I’m almost certain could make it 10 years with what we have
If just keeping running what we own now is the best and most money making option not sure

Dan

Labor, repair and the cost of not getting the job done definitely has to be considered in all decisions—
Owning the cow till it dies can get expensive

Edited by Dan Loehr 9/28/2024 17:20

whiterock91

Posted 9/28/2024 18:26 (#10907924 - in reply to #10907869) Subject: RE: Used Equipment Market

Alpena MI

I’ve saw enough of your posts to know you run a solid operation. My post was in fun. But in all seriousness, at this point in our operation, we need guys that can run stuff newer than we run so we can continue to upgrade. Our oldest tractor is a 4840 that we haven’t even used yet, and our newest is an 8430 with 13k hrs. Well, besides our 600 quad trac that has a tile plow bolted to the frame. It never sees farm work though so that doesn’t really count probably. Dan Loehr

Posted 9/28/2024 21:55 (#10908112 - in reply to #10907924) Subject: RE: Used Equipment Market

Holland, Indiana (SW IN)

Took no offense

It was exciting when betting every dime on a crop I enjoyed living on the edge… some how I’m 70 now comforting to have back up money much less stress

We still have a dozer pulled tile plow my “ baby” been sitting a couple years hoping to use it this fall and winter enjoy laying tile :-)

Dan

SWMustang

Posted 9/30/2024 12:04 (#10909995 - in reply to #10906935) Subject: RE: Used Equipment Market

SW MN

Haven't heard record crop yields in MN at all. Everyone I have talked to is finding their beans are at APH or below. I have about 1000 acres out. I had 1 field make APH. The rest is somewhere between 5-15% below APH. Silage appraisals are not records from farmers I have talked with. A lot of 180-200 silage appraisals. That typically leads to 160-180 grain yields when combined.

Take the under in MN. I thought we were in a good spot for yields, and so far the reports are underwhelming. I think it only gets worse the further east you get.