![]() This text may not be in its final form and may be updated or revised in the future. ![]() NPR transcripts are created on a rush deadline by an NPR contractor. Visit our website terms of use and permissions pages at for further information. (SOUNDBITE OF SPIRO'S "LEVEL 2 SMALL BATS")Ĭopyright © 2021 NPR. TURNER: In the meantime, Brock Keesler and other farmers will continue scouring dealerships and other auctions in hopes of finding equipment they can afford now to make their farms more efficient.įor NPR News, I'm Brock E.W. KURT EVERETT: I'm overpaying for stuff, you know? Everything's way out of touch. He worries about what will likely happen when the resale market inevitably cools. Kurt Everett secures farm equipment for one of Indiana's largest farm auction houses. But many do have money to spend now if the price is right. TURNER: This is happening even as many farmers remain cautious about seeing significant profits again anytime soon, in part because the cost of seed and fertilizer this year have also soared. KEESLER: If you find a really cherry piece of used equipment, things are bringing top dollar almost as much or more than when they were bought new. Farmer Brock Keesler bid on multiple pieces of equipment but kept getting outbid by other farmers, with the prices well beyond what he could afford. GARY SCHNITKEY: The reason why we see it go up is because farmers have disposable income, so they have money to spend, and the tax laws really, really favor purchasing equipment. Gary Schnitkey teaches farm management at the University of Illinois. And it's happening all across the country. That's leading to prices of used equipment at auction much higher than just last year. Pair that with a strong harvest this year, and many are sitting on money to invest now in upgrading their equipment. Many bought their seed and fertilizer well before today's price hikes. ![]() TURNER: While we see similar supply chain challenges affect everything from a cup of coffee to a car, it's a unique situation for farmers in a number of ways. Many of the tractors on his lawn are already sold and awaiting final accessories.ĭYLAN MCCLURE: There's some models where you order now - and it's not Kubota's fault - but, you know, you could select when you'd like it delivered, and a lot of those models are coming up June 2023. Dylan McClure is a parts and sales representative at Stone's Farm Service in Greensburg, Ind. Even for those who can afford it, finding equipment can be exceedingly hard. For farmers getting their start, purchasing equipment new is just out of the question. ![]() There are about a half-dozen machines he has his eye on. TURNER: Today, Keesler is looking for a combine and head unit. With new tractors and combines hard to find, many are turning to used equipment auctions, like this one in Monrovia, Ind. TURNER: Keesler and many other farmers are trying to take advantage of tax laws allowing them to write off equipment purchases before the end of the year. Farmer Brock Keesler (ph), who grows corn and soybeans on 500 acres in Greenville, Ind., knows that's outside of his budget.īROCK KEESLER: Starting out, you know, I don't have the capital the big boys have. The head unit, which removes corn from the field, alone can exceed $150,000. It can easily exceed half a million dollars. Turner reports.īROCK E W TURNER, BYLINE: A new combine can cost far more than what most people pay for their house. But just like so many other industries right now, the demand currently outweighs the supply, so there's a big surge in prices for used farm equipment. After a strong harvest this year, many farmers are trying to replace some of that equipment by the end of the year. Farm equipment - all those high-tech tractors and combines - it's one of the biggest expenses in agriculture. ![]()
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