(ZEROHEDGE) – The cost of farm equipment continues to soar. And it’s not just fancy new tractors and combines with all bells and whistles, like GPS, automation, remote operation, sensors, diagnostics, screens, cameras, and air conditioners, but also ones that are one or two decades old with fewer microchips.
One reason the second-hand market for large and small tractors and combines is hot could be due to supply chain issues of procuring a new tractor. However, we have shown most snarls in global supply chains have normalized in recent quarters.
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The second and most likely reason is that farmers are ditching new high-tech tractors with higher capital and maintenance costs. It’s widely known in the farming community that older tractors have less technology which makes it easier to work on and repair faster.
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