Grain prices & new iron

[Jeff_a_Caldwell]

Just saw a report that shows new farm machinery is selling at a much quicker clip than it was this time a year ago, and economists see a clear connection between these higher sales and current bullish grain prices (combine sales, for example, were 24% higher for October 2010 versus October 2009).

Anybody buying any new equipment or machinery because of today's high grain prices? 

[Artifice]

Not buying any new iron- too much machinery co legacy pension h-care costs marketing built in.  Would rather repair & maintain what equip I have. We buy grease.

I do see a correlation between farm income and next year’s plantings though, has anyone else run those #s?  I think it is just on the brain. Feel flusher, memories of a high revenue year, so planting intentions go way UP! That then needs to be used for marketing strategy. Higher odds of a bigger crop and less tight es/use.

[nwobcw]

Maybe something used this year.  Possibly a tractor next year.  With used tractors so high might as well buy new and get exactly what one wants.

[fernwood]

Building nice shop to work on what we have vs buying new.  Have a lot of older equipment that needs refurbishing.  Can buy a lot of parts and paint for the price of one new piece of equipment.   

[machinery pete]

Not just NEW equipment....USED sales are roaring too. Headline I posted last Friday (12/3/10) on my blog at Machinerypete.com:

USED TRACTOR MARKET ON FIRE

Here's our latest Youtube video, more proof.....JD 7810 & JD 4650 tractors selling VERY HIGH on west-central Illinois farm auction last week:

Pete

www.machinerypete.com