Housing completions will increase demand for both residential power lawn and garden equipment and landscaping services, according to The Fredonia Group. Technological innovations will also influence demand.
Year-to-date sales of less than 40-horsepower tractors increased 7.7% compared to 2014, while sales of 40-100 horsepower farm tractors turned negative again, according to the Association of Equipment Manufacturers.
In 2014, these small family farms also accounted for 90% of all U.S. farms and 22% of agricultural production, according to USDA's Economic Research Service.
Factors contributing to lower prices include predictions of warmer temperatures in regions east of the Rocky Mountains compared with last year and higher inventory levels.
According to Reuters, Bass Pro Shops is in the process of securing financing for a potential deal. Officials of both companies are declining to comment.
Thank you to all the dealers who participated in our 2016 Dealer Business Trends & Outlook survey. We’re analyzing the data now and will share the results in our winter issue
Sales of under 40-horsepower tractors jumped 23% in October compared to 1 year ago and are up 8.1% for the year-to-date, according to the Assn. of Equipment Manufacturers.
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