In 2024, the combine market has seen significant changes, marked by contrasting trends that reflect the broader agricultural equipment industry’s adaptation to shifting economic conditions. Key reports from equipment analysts reveal that while the market is adjusting to challenges such as surplus inventory, high interest rates, and shifting demand, there are also signs of increasing auction prices for specific models, signaling a complex and nuanced picture.
One of the most notable trends in the combine market in 2024 is the surplus of equipment. Following strong demand in the early 2020s, dealers are now grappling with a situation where the number of unsold used combines is higher than expected. This surplus is primarily due to economic factors, including low crop prices, high interest rates, and declining farm income. These factors have led to a slowdown in new orders and reduced sales across the board, creating a scenario where agricultural equipment dealers …