The farm equipment manufacturing sector could be bolstered by a so-called replacement cycle following a severe reduction in industry volumes.
Bill Hurley, vice president of customer sales and distribution for AGCO, says the economic downturn in agriculture has hurt sales the past three to five years.
But, he’s optimistic more farmers are starting to look at replacing used equipment.
“It’s not that we’ve seen a huge spike in commodity prices or anything like that, but we do think the industry has stabilized itself.”
Hurley is hesitant to paint the turnaround with a broad brush.
Continue reading Replacement cycle could bolster farm equipment sales at Brownfield Ag News.
