Investing.com -- Oppenheimer reported that used equipment inventories fell across agriculture, construction, and medium-and heavy-duty trucks in May, according to the Sandhills report.

In agriculture, total used tractor inventories dropped 1.5% month-over-month and 20.3% year-over-year. Mid-range tractors showed the strongest declines, with 100-174 horsepower models down 22.0% year-over-year and 175-299 horsepower units falling 16.1% year-over-year. Tractors under 100 horsepower declined 28.3% year-over-year, while those above 300 horsepower decreased 12.5% year-over-year.

Tractor asking prices fell 0.5% month-over-month and 1.5% year-over-year, while auction prices dropped 0.8% month-over-month but rose 2.4% year-over-year. The spread between asking and auction values for tractors narrowed to 3.9% in May from 4.1% in April.

Used combine inventories increased 0.6% month-over-month but fell 10.1% year-over-year. Asking prices decreased 2.6% month-over-month and 1.2% year-over-year. Auction prices dropped 1.5% month-over-month but gained 0.8% year-over-year. The spread between asking and auction values for combines widened to 2.0% in May from 0.9% in April.

In construction, used excavator inventories declined 1.6% month-over-month and 14.2% year-over-year. Asking prices fell 1.5% month-over-month and 3.3% year-over-year, while auction prices dropped 1.8% month-over-month and 3.1% year-over-year. The spread between asking and auction values narrowed to 0.2% in May from 0.6% in April, marking the tightest level since February 2025.

Total truck inventories fell 1.4% month-over-month and 27.1% year-over-year in May. Medium-duty truck inventories dropped 0.9% month-over-month and 37.5% year-over-year. Class 8 day-cab truck inventories rose 0.3% month-over-month but fell 25.3% year-over-year. Class 8 sleeper truck inventories decreased 3.3% month-over-month and 20.8% year-over-year.

Total truck asking prices increased 0.8% month-over-month but fell 2.4% year-over-year. Auction prices rose 2.0% month-over-month and 1.1% year-over-year. The spread between asking and auction values for trucks widened to 3.5% in May from 1.5% in April.