Jefferies says used farm equipment pricing stays under pressure

Investing.com -- Used farm equipment pricing remained under pressure in August, with large late-model tractors declining 1.3% from July levels, according to Jefferies' proprietary equipment tracker.

Total equipment volumes fell 2.7% month-over-month while pricing increased 3.1% sequentially. Large late-model tractors under three years old saw asking prices drop 1.7% year-over-year and 1.3% month-over-month.

Large tractor listings over 200 horsepower rose 1.8% from the prior month but remained down 13.1% year-over-year. Asking prices for this category increased 0.3% month-over-month and 0.2% year-over-year.

Late-model large tractor listings grew 17.6% month-over-month but were down 25.6% compared to the prior year. The firm noted that large late-model used pricing has generally declined since the start of 2025.

Small tractors under 200 horsepower showed different trends, with average list prices up 6.1% year-over-year and 1.2% month-over-month. Listings for small tractors fell 32.6% year-over-year and 10.7% month-over-month.

Combine harvester list prices decreased 1% month-over-month and 6.2% year-over-year. Combine listings dropped 6.2% from July and 1.6% from the prior year. Late-model combine pricing fell 0.5% month-over-month and 7.5% year-over-year.

The Purdue/CME Ag Economy Barometer rose to 126 in July, up 13 points from June. The Farm Capital Investment Index increased to 50, up 10 points from June.

Jefferies conducted its equipment tracker scrape on August 14, using data from Deere's used equipment listing site and MachineFinder.

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