Prices for good condition used farm machinery have skyrocketed. Machinery Pete owner Greg Peterson says the lack of availability due to COVID is wreaking havoc on availability. “One year ago, if you were a farm equipment manufacturer, you were forecasting ahead trying to predict how much new product you’d need and you pulled back on production. Now, the higher commodity prices ramped up farmer demand for new and used equipment.” Peterson says used tractors in good condition are in high demand. “The inventory level on dealer lots is sharply down. We are seeing things like someone listing a 25 year old tractor on our website one day and selling it two days later. It’s kind of like what you hear about with the housing market.”
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