‘State Of The Ag
Industry Outlook’
Reports Continued
Recovery Of Farm
Equipment Sales
CHICAGO, 111. Based on results from the Equip
ment Manufacturers Institute’s (EMI) “State of the Ag
Industry Mid-Year Outlook,” the forecast for the U.S.
retail sales of farm tractors, self-propelled combines,
farm field machinery and farmstead equipment con
tinues to show signs of recovery for the remainder of
this year. The outlook for 2002 also looks promising in
most of the farm equipment categories, stated Linda
Jansen, chairman of EMl’s Agricultural Statistics
Committee, who presented the findings at the Insti
tute’s Mini-Ag Conference conducted July 17 in
Rosemont, 111.
Forecast for the farmstead equipment was mixed.
Sales of dairy mechanization equipment, which were
predicted to decrease by 8.0 percent in EMl’s January
State of the Ag Industry Outlook, are now projected to
have a slight increase in sales of 1.0 percent compared
to 2000. Forecast for 2002 are predicted to remain flat.
Milking machines, on the other hand, indicated a
sharp decrease in sales of 10.8 percent for 2001, and a
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complete turnaround in 2002 with an 8.0 percent in
crease.
The survey also asked respondents what factors
they thought would influence future sales of new
equipment. High on the positive list for 2001 were beef
and hog prices, interest rates, and credit availability.
Beef prices, interest rates and credit availability were
also the key influences for 2002 along with replace
ment demand on farm equipment. Over the years, 20
factors from financial concerns, crops, crop prices,
livestock prices, and farm equipment have emerged as
key influences on new equipment sales.
The results of this survey are based on the responses
from 47 key EMI agricultural industry member com
panies that manufacture farm field and farmstead
type equipment. These companies account for more
than two-thirds of the total related products sold by
the industry. The report provides industry average
sales forecasts for 2001 versus 2000 and 2002 versus
2001 in the various product categories.
Printed copies of the 2001 “State of the Ag Industry
Mid-Year Outlook” are available from the Equipment
Manufacturers Institute for $25 each. To order, con
tact the EMI office at (312) 321-1470. The outlook,
along with additional information about the institute,
can be found on EMl’s Website, http://www.emi.org.
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