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Machinery Pete: Pass the yams, please

Agriculture.com Staff 12/01/2008 @ 1:56pm

The turkey or the talking?

I can never decide what's the best part about Thanksgiving. I do love my turkey, gravy, cranberries, stuffing, sweet potatoes and pumpkin pie. But just as much, I look forward to the opportunity to visit with family and friends around the dinner table, over leftovers, or sitting around the tube watching football.

In this weekly online column as well as in my monthly column in print for Successful Farming magazine, I like to try and provide readers with interesting tidbits or nuggets of information. The kind of stuff that's fun to share with family, friends or buddies at the coffee shop..."Did you hear about that Kinze planter sold last week on the auction in Michigan?"

So let's see, what nuggets can I give you to share during your Thanksgiving gatherings the rest of the week? Hmm, I've got a few suggestions. Here goes:

This last week I began to hear some rumblings about possibly growing numbers of new equipment orders for 2009 being cancelled by customers. With all the constant talk about Wall Street and credit market meltdowns, Washington bailouts and retail sales grinding to a halt, I suppose its not surprising.

I did a quick informal survey of implement dealers around the country, most of whom I've known for 10+ years to ask what they're seeing. Their responses were pretty much along the same line, "sales still strong, a few cancellations, but no trend to speak of."

One dealer mentioned "having to talk a few buyers off the ledge."

But again, seems like those new equipment orders for 2009 remain very strong, with the possible exception of new orders from Europe, Russia and parts of South America. Not hard to figure out what's going on there, when credit dried up, so too did new equipment orders, thus some foreign cancellations.

The turkey or the talking?

In talking to my implement dealer contacts I found another interesting development. The financing arms of corporations such as Deere, Case/New Holland and the other major equipment manufacturers are getting caught in the Wall Street credit mess and have seen the financing rates they are able to offer to new equipment buyers skyrocket 3%.

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