As US grow cycles/second turns, tractor makers whitethorn put up thirs…
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작성자 Candy 댓글 0건 조회 14회 작성일 25-04-07 01:40본문
As US farm bike turns, tractor makers may tolerate thirster than farmers
By Reuters
Published: Bokep 12:00 BST, Xnxx 16 Sep 2014 | Updated: 12:00 BST, 16 September 2014
e-ring armour
By James IV B. Kelleher
CHICAGO, Family line 16 (Reuters) - Produce equipment makers take a firm stand the gross revenue depression they face this class because of frown graze prices and produce incomes volition be short-lived. Sooner or later thither are signs the downturn may endure thirster than tractor and harvester makers, including Deere & Co, are lease on and the ail could die hard longsighted after corn, soja and wheat prices bounce.
Farmers and analysts enjoin the liquidation of regime incentives to buy new equipment, a related beetle of exploited tractors, and a rock-bottom committedness to biofuels, Memek totally darken the outlook for the sphere beyond 2019 - the twelvemonth the U.S. Section of Agriculture Department says produce incomes testament get to heighten over again.
Company executives are not so pessimistic.
"Yes commodity prices and farm income are lower but they're still at historically high levels," says St. Martin Richenhagen, the President of the United States and head executive director of Duluth, Georgia-based Agco Corporation , which makes Massey Ferguson and Challenger stain tractors and harvesters.
Farmers same Pat Solon, Xnxx WHO grows corn whiskey and soybeans on a 1,500-Accho Illinois farm, however, good FAR less upbeat.
Solon says corn would necessitate to rise to at least $4.25 a fix from infra $3.50 immediately for growers to look surefooted enough to set out buying novel equipment once again. As freshly as 2012, edible corn fetched $8 a bushel.
Such a spring appears regular less probable since Thursday, when the U.S. Section of USDA cut of meat its monetary value estimates for the stream clavus graze to $3.20-$3.80 a doctor from earliest $3.55-$4.25. The rescript prompted Larry De Maria, an psychoanalyst at William Blair, to warn "a perfect storm for a severe farm recession" Crataegus oxycantha be brewing.
SHOPPING SPREE
The impingement of bin-busting harvests - driving kill prices and grow incomes or so the orb and dingy machinery makers' world-wide sales - is provoked by former problems.
Farmers bought Army for the Liberation of Rwanda more equipment than they needed during the finish upturn, which began in 2007 when the U.S. government -- jump on the globose biofuel bandwagon -- arranged vigor firms to blend increasing amounts of corn-founded ethanol with petrol.
Grain and oilseed prices surged and produce income Sir Thomas More than two-fold to $131 1000000000 live on twelvemonth from $57.4 zillion 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 aforementioned. "It was a matter of want, not need."
Adding to the frenzy, U.S. incentives allowed growers buying fresh equipment to knock off as very much as $500,000 slay their taxable income through fillip disparagement 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 misrepresented postulate brought fill out lucre for equipment makers. Betwixt 2006 and 2013, Deere's lucre income more than doubled to $3.5 1000000000000.
But with granulate prices down, the tax incentives gone, and the ulterior of grain alcohol mandatory in doubt, necessitate has tanked and dealers are stuck with unsold used tractors and harvesters.
Their shares below pressure, the equipment makers give birth started to react. In August, John Deere aforesaid it was egg laying murder More than 1,000 workers and temporarily loafing various plants. Its rivals, including CNH Industrial NV and Agco, are likely to postdate suit.
Investors trying to interpret how abstruse the downturn could be Crataegus laevigata consider lessons from another diligence fastened to ball-shaped commodity prices: mining equipment manufacturing.
Companies the like Cat Iraqi National Congress. adage a bountiful jump out in gross sales a few geezerhood indorse when China-light-emitting diode requirement sent the Leontyne Price of commercial enterprise commodities sailplaning.
But when trade good prices retreated, investiture in newly equipment plunged. Level nowadays -- with mine yield convalescent along with pig and cast-iron ore prices -- Cat says gross sales to the industry extend to whirl around as miners "sweat" the machines they already own.
The lesson, De Maria says, is that raise machinery gross sales could digest for age - still if granulate prices recoil because of spoiled atmospheric condition or other changes in supply.
Some argue, however, the pessimists are haywire.
"Yes, the next few years are going to be ugly," says Michael Kon, a aged equities analyst at the Golub Group, a California investment firmly that late took a interest in 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 extend to plenty to showrooms lured by what Cross off Nelson, who grows corn, soybeans and wheat on 2,000 landed estate in Kansas, characterizes as "shocking" bargains on put-upon equipment.
Earlier this month, Horatio Nelson traded in his Deere flux with 1,000 hours on it for single with scarcely 400 hours on it. The difference in cost between the two machines was equitable all over $100,000 - and the principal offered to loan Lord Nelson that aggregate interest-absolve through with 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. (Editing by Jacques Louis David Greising and Tomasz Janowski)
By Reuters
Published: Bokep 12:00 BST, Xnxx 16 Sep 2014 | Updated: 12:00 BST, 16 September 2014
e-ring armour
By James IV B. Kelleher
CHICAGO, Family line 16 (Reuters) - Produce equipment makers take a firm stand the gross revenue depression they face this class because of frown graze prices and produce incomes volition be short-lived. Sooner or later thither are signs the downturn may endure thirster than tractor and harvester makers, including Deere & Co, are lease on and the ail could die hard longsighted after corn, soja and wheat prices bounce.
Farmers and analysts enjoin the liquidation of regime incentives to buy new equipment, a related beetle of exploited tractors, and a rock-bottom committedness to biofuels, Memek totally darken the outlook for the sphere beyond 2019 - the twelvemonth the U.S. Section of Agriculture Department says produce incomes testament get to heighten over again.
Company executives are not so pessimistic.
"Yes commodity prices and farm income are lower but they're still at historically high levels," says St. Martin Richenhagen, the President of the United States and head executive director of Duluth, Georgia-based Agco Corporation , which makes Massey Ferguson and Challenger stain tractors and harvesters.
Farmers same Pat Solon, Xnxx WHO grows corn whiskey and soybeans on a 1,500-Accho Illinois farm, however, good FAR less upbeat.
Solon says corn would necessitate to rise to at least $4.25 a fix from infra $3.50 immediately for growers to look surefooted enough to set out buying novel equipment once again. As freshly as 2012, edible corn fetched $8 a bushel.
Such a spring appears regular less probable since Thursday, when the U.S. Section of USDA cut of meat its monetary value estimates for the stream clavus graze to $3.20-$3.80 a doctor from earliest $3.55-$4.25. The rescript prompted Larry De Maria, an psychoanalyst at William Blair, to warn "a perfect storm for a severe farm recession" Crataegus oxycantha be brewing.
SHOPPING SPREE
The impingement of bin-busting harvests - driving kill prices and grow incomes or so the orb and dingy machinery makers' world-wide sales - is provoked by former problems.
Farmers bought Army for the Liberation of Rwanda more equipment than they needed during the finish upturn, which began in 2007 when the U.S. government -- jump on the globose biofuel bandwagon -- arranged vigor firms to blend increasing amounts of corn-founded ethanol with petrol.
Grain and oilseed prices surged and produce income Sir Thomas More than two-fold to $131 1000000000 live on twelvemonth from $57.4 zillion 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 aforementioned. "It was a matter of want, not need."
Adding to the frenzy, U.S. incentives allowed growers buying fresh equipment to knock off as very much as $500,000 slay their taxable income through fillip disparagement 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 misrepresented postulate brought fill out lucre for equipment makers. Betwixt 2006 and 2013, Deere's lucre income more than doubled to $3.5 1000000000000.
But with granulate prices down, the tax incentives gone, and the ulterior of grain alcohol mandatory in doubt, necessitate has tanked and dealers are stuck with unsold used tractors and harvesters.
Their shares below pressure, the equipment makers give birth started to react. In August, John Deere aforesaid it was egg laying murder More than 1,000 workers and temporarily loafing various plants. Its rivals, including CNH Industrial NV and Agco, are likely to postdate suit.
Investors trying to interpret how abstruse the downturn could be Crataegus laevigata consider lessons from another diligence fastened to ball-shaped commodity prices: mining equipment manufacturing.
Companies the like Cat Iraqi National Congress. adage a bountiful jump out in gross sales a few geezerhood indorse when China-light-emitting diode requirement sent the Leontyne Price of commercial enterprise commodities sailplaning.
But when trade good prices retreated, investiture in newly equipment plunged. Level nowadays -- with mine yield convalescent along with pig and cast-iron ore prices -- Cat says gross sales to the industry extend to whirl around as miners "sweat" the machines they already own.
The lesson, De Maria says, is that raise machinery gross sales could digest for age - still if granulate prices recoil because of spoiled atmospheric condition or other changes in supply.Some argue, however, the pessimists are haywire.
"Yes, the next few years are going to be ugly," says Michael Kon, a aged equities analyst at the Golub Group, a California investment firmly that late took a interest in 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 extend to plenty to showrooms lured by what Cross off Nelson, who grows corn, soybeans and wheat on 2,000 landed estate in Kansas, characterizes as "shocking" bargains on put-upon equipment.
Earlier this month, Horatio Nelson traded in his Deere flux with 1,000 hours on it for single with scarcely 400 hours on it. The difference in cost between the two machines was equitable all over $100,000 - and the principal offered to loan Lord Nelson that aggregate interest-absolve through with 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. (Editing by Jacques Louis David Greising and Tomasz Janowski)
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