Farm equipment prices increased dramatically in 2021 and 2022. NDSU Extension Ag Finance Specialist Bryon Parman spoke at the Best of the Best in Wheat and Soybean Research and highlighted how grain hauling equipment did not follow the same pattern as other implements. Commodity hauling trailer prices increased along with other farm equipment, but semi-trucks remained steady. “It’s more speculation than it is concrete on why that may be the case,” said Parman. More supply and spread-out demand were likely factors. Used equipment markets cooled down in 2023. “We’re seeing a decline in the used equipment market due to the bigger inventories now being available.”
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