According to a recent news release from Alberta Agriculture and Irrigation, higher combine prices do not yet appear to have affected their sales in Canada.
Deere & Co beat analysts' expectations for third-quarter profit on Thursday, as stronger pricing and cost control measures protected its margins from sluggish demand for its farm equipment.
Deere & Co said on Wednesday it would cut an unspecified number of production and salaried jobs to save costs as it grapples with a downturn in farm equipment demand.
In Canada, unit sales of 100+ horsepower tractors grew 2.7 per cent in March compared to the same month last year. In the U.S., unit sales of the same machinery class jumped for the second straight month. American large tractor sales grew 3.2 per cent in March compared to year-ago numbers, following February’s increase of 2.8 per cent.