Decreasing tractor, combine sales show how strong market was: FCC

A Farm Credit Canada (FCC) economist says an 11 per cent decrease in new farm equipment sales in the first three quarters of 2015 is more of a sign of how great the farm market was as opposed to where the market is headed.
The FCC estimates that farm equipment sales could decrease five per cent in 2016 compared to 2015, and another 2.7 per cent decrease in 2017. Overall, new farm equipment sales increased 82 per cent from 1999 to 2014, reaching a high in 2013-14.
Farm equipment is priced in U.S. dollars, so the low Canadian dollar is helping slow down sales, says FCC senior agricultural economist Leigh Anderson. Other factors include low crop prices and the longevity of machines.