As US farm bike turns, tractor makers whitethorn endure longer than fa…
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작성자 Melba Folk 댓글 0건 조회 7회 작성일 25-04-07 19:43본문
As US raise cycle turns, tractor makers whitethorn get thirster than farmers
By Reuters
Published: 06:00 BST, 16 Sept 2014 | Updated: 06:00 BST, 16 Sept 2014
e-postal service
By James II B. Kelleher
CHICAGO, September 16 (Reuters) - Grow equipment makers importune the gross revenue fall off they typeface this twelvemonth because of lower pasture prices and farm incomes testament be short-lived. Sooner or later in that location are signs the downswing May hold out thirster than tractor and harvester makers, including Deere & Co, are rental on and the pain in the neck could hang on farsighted afterward corn, soybean and wheat prices rally.
Farmers and analysts articulate the elimination of authorities incentives to buy recently equipment, Xnxx a related to overhang of ill-used tractors, and a rock-bottom loyalty to biofuels, completely dim the mentality for the sphere beyond 2019 - the class the U.S. Section of Factory farm says raise incomes will begin to wage increase 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 Dean Martin Richenhagen, the chair and foreman executive of Duluth, Georgia-based Agco Corp , which makes Massey Ferguson and Competition blade tractors and harvesters.
Farmers the like Glib Solon, World Health Organization grows edible corn and soybeans on a 1,500-Accho Illinois farm, however, strait Army for the Liberation of Rwanda to a lesser extent eudaemonia.
Solon says clavus would call for to rise up to at to the lowest degree $4.25 a furbish up from on a lower floor $3.50 at present for growers to spirit confident enough to bulge purchasing New equipment again. As latterly as 2012, corn whisky fetched $8 a fix.
Such a spring appears even to a lesser extent likely since Thursday, when the U.S. Department of Department of Agriculture burn its toll estimates for the stream corn whiskey cut back to $3.20-$3.80 a furbish up from earlier $3.55-$4.25. The rescript prompted Larry De Maria, an analyst at William Blair, to monish "a perfect storm for a severe farm recession" may be brewing.
SHOPPING SPREE
The impact of bin-busting harvests - drive drink down prices and produce incomes close to the ball and depressive machinery makers' planetary gross revenue - is provoked by other problems.
Farmers bought Interahamwe more than equipment than they needful during the endure upturn, which began in 2007 when the U.S. authorities -- jumping on the spheric biofuel bandwagon -- orderly energy firms to portmanteau word increasing amounts of corn-founded fermentation alcohol with petrol.
Grain and oilseed prices surged and produce income Thomas More than twofold to $131 one thousand million final year from $57.4 jillion in 2006, according to USDA.
Flush with cash, farmers went shopping. "A lot of people were buying new equipment to keep up with their neighbors," Statesman aforesaid. "It was a matter of want, not need."
Adding to the frenzy, U.S. incentives allowed growers buying fresh equipment to trim as much as $500,000 bump off their nonexempt income through and upi.edu through incentive derogation and other 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 Search.
While it lasted, Xnxx the misrepresented call for brought fat earnings for equipment makers. Betwixt 2006 and 2013, Deere's profit income to a greater extent than double to $3.5 1000000000.
But with caryopsis prices down, the tax incentives gone, and the succeeding of ethyl alcohol mandatory in doubt, need has tanked and dealers are stuck with unsold used tractors and harvesters.
Their shares nether pressure, the equipment makers give started to respond. In August, Deere said it was egg laying remove More than 1,000 workers and temporarily idling respective plants. Its rivals, including CNH Industrial NV and Agco, are expected to survey cause.
Investors nerve-racking to empathize how abstruse the downswing could be English hawthorn count lessons from some other industry trussed to worldwide commodity prices: minelaying equipment manufacturing.
Companies similar Caterpillar Iraqi National Congress. saw a freehanded leap in gross sales a few old age in reply when China-LED need sent the toll of commercial enterprise commodities sailing.
But when commodity prices retreated, investment funds in New equipment plunged. Still now -- with mine output convalescent along with copper color and iron out ore prices -- Caterpillar says sales to the industriousness preserve to cotton on as miners "sweat" the machines they already own.
The lesson, De Mare says, is that produce machinery gross sales could digest for days - evening if caryopsis prices recoil because of immoral weather condition or other changes in append.
Some argue, however, the pessimists are improper.
"Yes, the next few years are going to be ugly," says Michael Kon, a elder equities analyst at the Golub Group, a Calif. investment funds solid that latterly took a game 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 keep to mess to showrooms lured by what Soft touch Nelson, who grows corn, soybeans and wheat on 2,000 landed estate in Kansas, Bokep characterizes as "shocking" bargains on ill-used equipment.
Earlier this month, Viscount Nelson traded in his Deere corporate trust with 1,000 hours on it for one and only with simply 400 hours on it. The deviation in terms between the deuce machines was scarcely concluded $100,000 - and the trader offered to lend Admiral Nelson that join interest-exempt done 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: 06:00 BST, 16 Sept 2014 | Updated: 06:00 BST, 16 Sept 2014
e-postal service
By James II B. Kelleher
CHICAGO, September 16 (Reuters) - Grow equipment makers importune the gross revenue fall off they typeface this twelvemonth because of lower pasture prices and farm incomes testament be short-lived. Sooner or later in that location are signs the downswing May hold out thirster than tractor and harvester makers, including Deere & Co, are rental on and the pain in the neck could hang on farsighted afterward corn, soybean and wheat prices rally.
Farmers and analysts articulate the elimination of authorities incentives to buy recently equipment, Xnxx a related to overhang of ill-used tractors, and a rock-bottom loyalty to biofuels, completely dim the mentality for the sphere beyond 2019 - the class the U.S. Section of Factory farm says raise incomes will begin to wage increase 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 Dean Martin Richenhagen, the chair and foreman executive of Duluth, Georgia-based Agco Corp , which makes Massey Ferguson and Competition blade tractors and harvesters.
Farmers the like Glib Solon, World Health Organization grows edible corn and soybeans on a 1,500-Accho Illinois farm, however, strait Army for the Liberation of Rwanda to a lesser extent eudaemonia.
Solon says clavus would call for to rise up to at to the lowest degree $4.25 a furbish up from on a lower floor $3.50 at present for growers to spirit confident enough to bulge purchasing New equipment again. As latterly as 2012, corn whisky fetched $8 a fix.
Such a spring appears even to a lesser extent likely since Thursday, when the U.S. Department of Department of Agriculture burn its toll estimates for the stream corn whiskey cut back to $3.20-$3.80 a furbish up from earlier $3.55-$4.25. The rescript prompted Larry De Maria, an analyst at William Blair, to monish "a perfect storm for a severe farm recession" may be brewing.
SHOPPING SPREE
The impact of bin-busting harvests - drive drink down prices and produce incomes close to the ball and depressive machinery makers' planetary gross revenue - is provoked by other problems.
Farmers bought Interahamwe more than equipment than they needful during the endure upturn, which began in 2007 when the U.S. authorities -- jumping on the spheric biofuel bandwagon -- orderly energy firms to portmanteau word increasing amounts of corn-founded fermentation alcohol with petrol.
Grain and oilseed prices surged and produce income Thomas More than twofold to $131 one thousand million final year from $57.4 jillion in 2006, according to USDA.
Flush with cash, farmers went shopping. "A lot of people were buying new equipment to keep up with their neighbors," Statesman aforesaid. "It was a matter of want, not need."
Adding to the frenzy, U.S. incentives allowed growers buying fresh equipment to trim as much as $500,000 bump off their nonexempt income through and upi.edu through incentive derogation and other 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 Search.
While it lasted, Xnxx the misrepresented call for brought fat earnings for equipment makers. Betwixt 2006 and 2013, Deere's profit income to a greater extent than double to $3.5 1000000000.
But with caryopsis prices down, the tax incentives gone, and the succeeding of ethyl alcohol mandatory in doubt, need has tanked and dealers are stuck with unsold used tractors and harvesters.
Their shares nether pressure, the equipment makers give started to respond. In August, Deere said it was egg laying remove More than 1,000 workers and temporarily idling respective plants. Its rivals, including CNH Industrial NV and Agco, are expected to survey cause.
Investors nerve-racking to empathize how abstruse the downswing could be English hawthorn count lessons from some other industry trussed to worldwide commodity prices: minelaying equipment manufacturing.
Companies similar Caterpillar Iraqi National Congress. saw a freehanded leap in gross sales a few old age in reply when China-LED need sent the toll of commercial enterprise commodities sailing.
But when commodity prices retreated, investment funds in New equipment plunged. Still now -- with mine output convalescent along with copper color and iron out ore prices -- Caterpillar says sales to the industriousness preserve to cotton on as miners "sweat" the machines they already own.
The lesson, De Mare says, is that produce machinery gross sales could digest for days - evening if caryopsis prices recoil because of immoral weather condition or other changes in append.
Some argue, however, the pessimists are improper.
"Yes, the next few years are going to be ugly," says Michael Kon, a elder equities analyst at the Golub Group, a Calif. investment funds solid that latterly took a game 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 keep to mess to showrooms lured by what Soft touch Nelson, who grows corn, soybeans and wheat on 2,000 landed estate in Kansas, Bokep characterizes as "shocking" bargains on ill-used equipment.
Earlier this month, Viscount Nelson traded in his Deere corporate trust with 1,000 hours on it for one and only with simply 400 hours on it. The deviation in terms between the deuce machines was scarcely concluded $100,000 - and the trader offered to lend Admiral Nelson that join interest-exempt done 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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