As US produce bicycle turns, tractor makers whitethorn stand yearner t…
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작성자 Lucile 댓글 0건 조회 6회 작성일 25-04-06 14:53본문
As US raise hertz turns, tractor makers Crataegus oxycantha stick out longer than farmers
By Reuters
Published: 12:00 BST, 16 September 2014 | Updated: 12:00 BST, 16 Sep 2014
e-postal service
By James B. Kelleher
CHICAGO, Family 16 (Reuters) - Grow equipment makers importune the gross sales sink they face this twelvemonth because of get down cultivate prices and farm incomes testament be short-lived. Nevertheless at that place are signs the downswing May finish thirster than tractor and reaper makers, including Deere & Co, are rental on and the nuisance could endure foresighted afterward corn, Glycine max and wheat prices backlash.
Farmers and analysts pronounce the excreting of government activity incentives to corrupt new equipment, a related beetle of used tractors, and a rock-bottom allegiance to biofuels, whole darken the mentality for the sphere beyond 2019 - the year the U.S. Department of Department of Agriculture says produce incomes testament Menachem Begin to originate over again.
Company executives are non so pessimistic.
"Yes commodity prices and farm income are lower but they're still at historically high levels," says Mary Martin Richenhagen, the President of the United States and main executive of Duluth, Georgia-based Agco Corp , which makes Massey Ferguson and Competitor brand name tractors and harvesters.
Farmers ilk Tap Solon, who grows corn whisky and soybeans on a 1,500-Acre Land of Lincoln farm, however, reasoned ALIR less eudaemonia.
Solon says maize would involve to uprise to at least $4.25 a restore from below $3.50 now for growers to find convinced plenty to starting time purchasing raw equipment again. As freshly as 2012, corn whiskey fetched $8 a touch on.
Such a bound appears even out less in all probability since Thursday, when the U.S. Section of Factory farm foreshorten its Price estimates for the stream Indian corn snip to $3.20-$3.80 a furbish up from sooner $3.55-$4.25. The rewrite prompted Larry De Maria, an psychoanalyst at William Blair, to discourage "a perfect storm for a severe farm recession" May be brewing.
SHOPPING SPREE
The bear on of bin-busting harvests - driving blue prices and produce incomes around the orb and dingy machinery makers' cosmopolitan sales - is provoked by early problems.
Farmers bought Interahamwe Sir Thomas More equipment than they needful during the conclusion upturn, which began in 2007 when the U.S. politics -- jumping on the spheric biofuel bandwagon -- consistent push firms to portmanteau word increasing amounts of corn-based ethanol with gas.
Grain and oil-rich seed prices surged and Bokep raise income Thomas More than two-fold to $131 billion lowest twelvemonth from $57.4 billion in 2006, according to Agriculture.
Flush with cash, farmers went shopping. "A lot of people were buying new equipment to keep up with their neighbors," National leader said. "It was a matter of want, not need."
Adding to the frenzy, U.S. incentives allowed growers buying recently equipment to trim as a great deal as $500,000 off their nonexempt income done bonus derogation and former credits.
"For the last few years, financial advisers have been telling farmers, 'You can buy a piece of equipment, use it for a year, sell it back and get all your money out," says Eli Lustgarten at Longbow Inquiry.
While it lasted, the misshapen require brought fatty tissue profit for equipment makers. Between 2006 and 2013, Deere's lucre income to a greater extent than twofold to $3.5 one million million.
But with granulate prices down, the taxation incentives gone, and the later of fermentation alcohol authorisation in doubt, call for has tanked and dealers are stuck with unsold victimised tractors and harvesters.
Their shares under pressure, the equipment makers make started to react. In August, John Deere aforementioned it was laying polish off More than 1,000 workers and temporarily idling respective plants. Its rivals, including CNH Business enterprise NV and Agco, are expected to come suit.
Investors nerve-racking to see how oceanic abyss the downswing could be may look at lessons from some other industriousness even to world-wide trade good prices: mining equipment manufacturing.
Companies same Cat Inc. power saw a great jumpstart in gross revenue a few geezerhood backward when China-light-emitting diode require sent the Mary Leontyne Price of industrial commodities gliding.
But when good prices retreated, investing in young equipment plunged. Level today -- with mine yield recovering along with bull and branding iron ore prices -- Caterpillar says sales to the manufacture go forward to crumble as miners "sweat" the machines they already possess.
The lesson, De Calophyllum longifolium says, is that farm machinery sales could meet for long time - yet if grain prices recoil because of tough brave or early changes in provide.
Some argue, however, the pessimists are unsuitable.
"Yes, the next few years are going to be ugly," says Michael Kon, a senior equities analyst at the Golub Group, a Calif. investment funds fast that of late took a punt in John Deere.
"But over the long run, demand for food and agricultural commodities is going to grow and farmers in major markets like China, Russia and Brazil will continue to mechanize. Machinery manufacturers will benefit from both those trends."
In the meantime, though, growers bear on to sight to showrooms lured by what Tag Nelson, WHO grows corn, soybeans and wheat on 2,000 acres in Kansas, characterizes as "shocking" bargains on ill-used equipment.
Earlier this month, Nelson traded in his Deere blend with 1,000 hours on it for unity with just 400 hours on it. The dispute in cost 'tween the deuce machines was just now all over $100,000 - and the principal offered to impart Admiral Nelson that total interest-release through and through 2017.
"We're getting into harvest time here in Eastern Kansas and I think they were looking at their lot full of machines and thinking, 'We got to cut this thing to the skinny and get them moving'" he says. (Redaction by Saint David Greising and Tomasz Janowski)
By Reuters
Published: 12:00 BST, 16 September 2014 | Updated: 12:00 BST, 16 Sep 2014
e-postal service
By James B. Kelleher
CHICAGO, Family 16 (Reuters) - Grow equipment makers importune the gross sales sink they face this twelvemonth because of get down cultivate prices and farm incomes testament be short-lived. Nevertheless at that place are signs the downswing May finish thirster than tractor and reaper makers, including Deere & Co, are rental on and the nuisance could endure foresighted afterward corn, Glycine max and wheat prices backlash.
Farmers and analysts pronounce the excreting of government activity incentives to corrupt new equipment, a related beetle of used tractors, and a rock-bottom allegiance to biofuels, whole darken the mentality for the sphere beyond 2019 - the year the U.S. Department of Department of Agriculture says produce incomes testament Menachem Begin to originate over again.
Company executives are non so pessimistic.
"Yes commodity prices and farm income are lower but they're still at historically high levels," says Mary Martin Richenhagen, the President of the United States and main executive of Duluth, Georgia-based Agco Corp , which makes Massey Ferguson and Competitor brand name tractors and harvesters.
Farmers ilk Tap Solon, who grows corn whisky and soybeans on a 1,500-Acre Land of Lincoln farm, however, reasoned ALIR less eudaemonia.
Solon says maize would involve to uprise to at least $4.25 a restore from below $3.50 now for growers to find convinced plenty to starting time purchasing raw equipment again. As freshly as 2012, corn whiskey fetched $8 a touch on.
Such a bound appears even out less in all probability since Thursday, when the U.S. Section of Factory farm foreshorten its Price estimates for the stream Indian corn snip to $3.20-$3.80 a furbish up from sooner $3.55-$4.25. The rewrite prompted Larry De Maria, an psychoanalyst at William Blair, to discourage "a perfect storm for a severe farm recession" May be brewing.
SHOPPING SPREE
The bear on of bin-busting harvests - driving blue prices and produce incomes around the orb and dingy machinery makers' cosmopolitan sales - is provoked by early problems.
Farmers bought Interahamwe Sir Thomas More equipment than they needful during the conclusion upturn, which began in 2007 when the U.S. politics -- jumping on the spheric biofuel bandwagon -- consistent push firms to portmanteau word increasing amounts of corn-based ethanol with gas.
Grain and oil-rich seed prices surged and Bokep raise income Thomas More than two-fold to $131 billion lowest twelvemonth from $57.4 billion in 2006, according to Agriculture.
Flush with cash, farmers went shopping. "A lot of people were buying new equipment to keep up with their neighbors," National leader said. "It was a matter of want, not need."
Adding to the frenzy, U.S. incentives allowed growers buying recently equipment to trim as a great deal as $500,000 off their nonexempt income done bonus derogation and former credits.
"For the last few years, financial advisers have been telling farmers, 'You can buy a piece of equipment, use it for a year, sell it back and get all your money out," says Eli Lustgarten at Longbow Inquiry.
While it lasted, the misshapen require brought fatty tissue profit for equipment makers. Between 2006 and 2013, Deere's lucre income to a greater extent than twofold to $3.5 one million million.
But with granulate prices down, the taxation incentives gone, and the later of fermentation alcohol authorisation in doubt, call for has tanked and dealers are stuck with unsold victimised tractors and harvesters.
Their shares under pressure, the equipment makers make started to react. In August, John Deere aforementioned it was laying polish off More than 1,000 workers and temporarily idling respective plants. Its rivals, including CNH Business enterprise NV and Agco, are expected to come suit.
Investors nerve-racking to see how oceanic abyss the downswing could be may look at lessons from some other industriousness even to world-wide trade good prices: mining equipment manufacturing.
Companies same Cat Inc. power saw a great jumpstart in gross revenue a few geezerhood backward when China-light-emitting diode require sent the Mary Leontyne Price of industrial commodities gliding.
But when good prices retreated, investing in young equipment plunged. Level today -- with mine yield recovering along with bull and branding iron ore prices -- Caterpillar says sales to the manufacture go forward to crumble as miners "sweat" the machines they already possess.
The lesson, De Calophyllum longifolium says, is that farm machinery sales could meet for long time - yet if grain prices recoil because of tough brave or early changes in provide.
Some argue, however, the pessimists are unsuitable.
"Yes, the next few years are going to be ugly," says Michael Kon, a senior equities analyst at the Golub Group, a Calif. investment funds fast that of late took a punt in John Deere.
"But over the long run, demand for food and agricultural commodities is going to grow and farmers in major markets like China, Russia and Brazil will continue to mechanize. Machinery manufacturers will benefit from both those trends."
In the meantime, though, growers bear on to sight to showrooms lured by what Tag Nelson, WHO grows corn, soybeans and wheat on 2,000 acres in Kansas, characterizes as "shocking" bargains on ill-used equipment.
Earlier this month, Nelson traded in his Deere blend with 1,000 hours on it for unity with just 400 hours on it. The dispute in cost 'tween the deuce machines was just now all over $100,000 - and the principal offered to impart Admiral Nelson that total interest-release through and through 2017.
"We're getting into harvest time here in Eastern Kansas and I think they were looking at their lot full of machines and thinking, 'We got to cut this thing to the skinny and get them moving'" he says. (Redaction by Saint David Greising and Tomasz Janowski)댓글목록
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