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marketeye
Veteran Advisor

Live Marketing Broadcast at 12:15 Today

Hey folks, I'm covering a "live" session on 2016 Market Trends, at 12:15 today, from the Iowa Power Farming Show.

Here's the deal. I'm going to broadcast live on my twitter account via periscope. To see it, just get on twitter.com and follow me at mikedmcginnis

 

Hope you get a chance to catch it.

 

Mike

 

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6 Replies
Hobbyfarmer
Honored Advisor

Re: Live Marketing Broadcast at 12:15 Today

Went to the show yesterday afternoon and today.

 

Looked to be a waste of money for many companies. A few tire kickers. Mostly just onlookers.

 

One vendor I spent a little money with said she didn't even get her hotel money back let alone the $750 10x10 booth fee, or parking lot fee. I suspect that was the norm.

 

One rep of one company told me two big operators in my neighborhood were being Down sized significantly. Kind of surprised me of one of the names ...

Got a call this afternoon, rumor is true. 4000 acres is available, was asked if I wanted some of it... more of their acres, and other  fellows to follow.

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westernia80
Senior Contributor

Re: Live Marketing Broadcast at 12:15 Today

I have a neighbor that was told by the bank that he is taking "early retirement" at 60.  His machinery sale is this spring.  I gave him a bid on his ground for what it would break even at, last I heard it $75 higher than I could make work.  So apparently some still have money to hemorrhage and enjoy paying money to farm.  Also saw a sale bill in the coop yesterday for a younger operator about my age (36).  Looked like all his machinery from what I could tell.  Not nearly the acres you are talking about hobby but I think there are more on the horizon.

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Hobbyfarmer
Honored Advisor

Re: Live Marketing Broadcast at 12:15 Today

I am wondering what machinery prices are going to do.  Friend of mine had a stupid attack two years ago and decided to trade his useable equip fo  all almost new stuff then flipped it th  next year for new stuff. It is all gone except for the new two hundred hp tractor. He is $60,000 upside down on it and is trying to work it out of its problem with a side job and a little custom work.

 

The two here that just rose to the surface have lines of green paint that rival the local dealers lot.

 

The bigger one of the two was over 14,000 acres last I knew.

 

Got to wonder who is going to fill the void. We don't have the young blood to plug the holes that this down trend may create. 

 

My son runs two 24 row planters in his  operation and said he had no desire to farm 10,000 acres. Many years down here in South Podunk Country our planting window is five to seven days, then it says June on the calendar.

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westernia80
Senior Contributor

Re: Live Marketing Broadcast at 12:15 Today

Late model used machinery anyway is down.  New?  Who knows.  Saw a 2014 Massey combine with about 500 hours on separator brought 155000 on big iron.  I realize its a Massey but still seems down a lot.  My local AGCO dealer let the new equipment go,  still does parts for now, said it was costing too much in payments every month to AGCO just to keep the franchise, and almost no sales of new stuff, just used is moving.  It had been a dealer for years that started back in the Oliver days.

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Blacksandfarmer
Veteran Advisor

Re: Live Marketing Broadcast at 12:15 Today

$8 corn was the worst thing to happen to agriculture. There were a few winners for a while. Lots of nice woods bulldozed around "here" just to make room for more corn, or easier paths for irrigation pivots. Most of the guys going broke around me were the biggest backstabbers in the "good times".

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kyu2852570
Veteran Contributor

Re: Live Marketing Broadcast at 12:15 Today

Nobody is giving up rental ground here. I'm ready to pounce and so are others but nothing is changing
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