The Lake Region Extension Roundup featured a session on land and equipment prices. Steffes Group President Scott Steffes was featured and said the used machinery market is hot. “If you can afford it, you should buy it because the wait times are so long. I think we’ll see another season of used prices through the roof.” Steffes expects farm machinery lots to remain bare until the supply chain can catch up with demand. If commodity prices can’t keep up, Steffes said rising interest rates could cut into farmland values.
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