Gross sales of farm tractors and mix harvesters proceed to trace carefully with the 5-year common, although final month’s quantity was nearly 5% decrease than in August 2022. In distinction, heavy-duty row crop tractor unit gross sales continued to extend within the U.S. In keeping with Curt Blades, Senior Vice President of Trade Sectors and Product Management on the Affiliation of Tools Producers (AEM), “North American row-crop farmers proceed so as to add and undertake new expertise to their gear fleets to assist cut back prices and enhance yields. The enchantment of the newer gear facilities on improved gas effectivity, higher GPS expertise, and improved automation options, which is why farmers proceed making these investments.”
Within the U.S. market, 100+ hp 2WD tractors and 4WD tractors had been the one segments to develop y/y. Each these segments, together with self-propelled combines, stay optimistic for the yr. The most important total development amongst tractors occurred in 4WD items, rising greater than 20% in August.
- 2WD tractors had been down 7.5% y/y for the month of August.
- 4WD tractors had been up 21% y/y, though they account for a small portion of the market.
- Self-propelled mix harvesters had been down 2% y/y.
In Canada, 100+ hp 2WD tractors had been the one development phase, up greater than 5%, staying optimistic year-to-date, together with 4WD tractors and combines.
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Market Watch
All charges cited beneath exclude gas surcharges until in any other case famous.
Flatbed capability continues to tighten within the PNW’s Portland market, the place linehaul charges jumped by $0.15/mile to $2.52/mile final week. Within the final two weeks, load publish quantity has elevated by 32%, with spot charges rising by nearly $0.50/mile over the identical timeframe. Portland to Denver masses paid carriers a mean of $2.27/mile, the very best in 12 months, whereas regional masses to Stockton, CA, additionally paid carriers $2.27/mile.
At $2.74/mile, Oregon state common charges are the second-highest in eight years, surpassed solely by 2018, when charges averaged $0.05/mile increased. In Twin Falls, the second-largest flatbed spot market within the PNW, load posts have elevated for the final 5 weeks, together with final week’s 22% w/w achieve. Linehaul charges averaged $1.52/mile, up $0.06/mile w/w. Twin Falls to Denver masses paid carriers $2.00/mile final week, nearly equivalent to final yr and the very best since Might.
Load-to-Truck Ratio (LTR)
Flatbed load publish (LP) quantity improved final week, rising by 7% w/w and 18% m/m. Service gear posts had been down by simply over 7% w/w once more final week, rising the flatbed load-to-truck ratio (LTR) by 16% w/w to eight.08. After six weeks of positive aspects, final week was the primary time the flatbed LTR has been over 8.0 because the finish of June.
Spot Charges
Final week’s flatbed linehaul charges regained the prior week’s losses, rising by simply over a penny per mile to a nationwide common of $1.92/mile, the place they’ve been sitting for the final two months. In comparison with final yr, flatbed spot charges are $0.27/mile decrease and solely $0.03/mile increased than in 2019.
