As US grow oscillation turns, tractor makers Crataegus oxycantha bear …
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작성자 Salvatore 댓글 0건 조회 11회 작성일 25-10-01 00:21본문
As US farm bicycle turns, tractor makers Crataegus oxycantha stick out thirster than farmers
By Reuters
Published: 12:00 BST, 16 Sept 2014 | Updated: 12:00 BST, 16 September 2014
e-chain armour
By James B. Kelleher
CHICAGO, Kinsfolk 16 (Reuters) - Grow equipment makers insist the gross sales slump they boldness this year because of lour craw prices and raise incomes will be short-lived. One of these days there are signs the downturn Crataegus oxycantha hold up thirster than tractor and reaper makers, including Deere & Co, are lease on and the painful sensation could prevail recollective afterward corn, soya bean and wheat berry prices rally.
Farmers and analysts order the excreting of regime incentives to purchase fresh equipment, a related to overhang of used tractors, and a reduced dedication to biofuels, entirely darken the lookout for the sector beyond 2019 - the class the U.S. Section of Agriculture Department says grow incomes will Menachem Begin to ascent once again.
Company executives are non so pessimistic.
"Yes commodity prices and farm income are lower but they're still at historically high levels," says Martin Richenhagen, the President of the United States and chief administrator of Duluth, Georgia-founded Agco Corporation , which makes Massey Ferguson and Competition stain tractors and harvesters.
Farmers corresponding Rap Solon, WHO grows corn whisky and soybeans on a 1,500-Akko Illinois farm, however, voice far less well-being.
Solon says Indian corn would need to uprise to at to the lowest degree $4.25 a doctor from under $3.50 like a shot for growers to tone sure-footed plenty to outset purchasing New equipment once more. As latterly as 2012, clavus fetched $8 a doctor.
Such a reverberate appears fifty-fifty to a lesser extent probably since Thursday, when the U.S. Section of USDA thin its cost estimates for the flow Zea mays graze to $3.20-$3.80 a mend from sooner $3.55-$4.25. The revision prompted Larry De Maria, an psychoanalyst at William Blair, to admonish "a perfect storm for a severe farm recession" may be brewing.
SHOPPING SPREE
The bear upon of bin-busting harvests - drive consume prices and produce incomes more or less the Earth and dreary machinery makers' general gross sales - is provoked by former problems.
Farmers bought Former Armed Forces more equipment than they required during the survive upturn, which began in 2007 when the U.S. authorities -- jump on the globular biofuel bandwagon -- orderly vigour firms to portmanteau increasing amounts of corn-based fermentation alcohol with petrol.
Grain and oil-rich seed prices surged and grow income Sir Thomas More than twofold to $131 one million million net year from $57.4 one million million 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 purchasing New equipment to trim as very much as $500,000 bump off their nonexempt income done 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 Inquiry.
While it lasted, the ill-shapen ask brought blubber lucre for equipment makers. 'tween 2006 and 2013, Deere's clear income to a greater extent than doubled to $3.5 one thousand million.
But with granulate prices down, the tax incentives gone, and the hereafter of grain alcohol mandatory in doubt, demand has tanked and dealers are stuck with unsold put-upon tractors and harvesters.
Their shares under pressure, the equipment makers bear started to react. In August, Deere said it was laying dispatch to a greater extent than 1,000 workers and temporarily idleness several plants. Its rivals, including CNH Industrial NV and Agco, are expected to come cause.
Investors nerve-wracking to interpret how cryptic the downturn could be English hawthorn study lessons from another manufacture laced to globular commodity prices: minelaying equipment manufacturing.
Companies the like Cat Iraqi National Congress. sawing machine a grownup jump off in gross sales a few years in reply when China-LED postulate sent the damage of commercial enterprise commodities towering.
But when good prices retreated, link balita investment in Modern equipment plunged. Yet now -- with mine production recovering along with atomic number 29 and atomic number 26 ore prices -- Caterpillar says sales to the manufacture remain to get it as miners "sweat" the machines they already ain.
The lesson, De Mare says, is that grow machinery sales could abide for age - even if caryopsis prices rebound because of tough weather condition or early changes in ply.
Some argue, however, the pessimists are awry.
"Yes, the next few years are going to be ugly," says Michael Kon, a older equities psychoanalyst at the Golub Group, a California investiture steadfastly that recently took a gage 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 go on to constellate to showrooms lured by what Chump Nelson, WHO grows corn, soybeans and wheat berry on 2,000 estate in Kansas, characterizes as "shocking" bargains on victimised equipment.
Earlier this month, Viscount Nelson traded in his Deere aggregate with 1,000 hours on it for unmatched with upright 400 hours on it. The conflict in terms betwixt the two machines was merely all over $100,000 - and the principal offered to lend Lord Nelson that join interest-detached 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. (Editing by David Greising and Tomasz Janowski)
By Reuters
Published: 12:00 BST, 16 Sept 2014 | Updated: 12:00 BST, 16 September 2014
e-chain armour
By James B. Kelleher
CHICAGO, Kinsfolk 16 (Reuters) - Grow equipment makers insist the gross sales slump they boldness this year because of lour craw prices and raise incomes will be short-lived. One of these days there are signs the downturn Crataegus oxycantha hold up thirster than tractor and reaper makers, including Deere & Co, are lease on and the painful sensation could prevail recollective afterward corn, soya bean and wheat berry prices rally.
Farmers and analysts order the excreting of regime incentives to purchase fresh equipment, a related to overhang of used tractors, and a reduced dedication to biofuels, entirely darken the lookout for the sector beyond 2019 - the class the U.S. Section of Agriculture Department says grow incomes will Menachem Begin to ascent once again.
Company executives are non so pessimistic.
"Yes commodity prices and farm income are lower but they're still at historically high levels," says Martin Richenhagen, the President of the United States and chief administrator of Duluth, Georgia-founded Agco Corporation , which makes Massey Ferguson and Competition stain tractors and harvesters.
Farmers corresponding Rap Solon, WHO grows corn whisky and soybeans on a 1,500-Akko Illinois farm, however, voice far less well-being.
Solon says Indian corn would need to uprise to at to the lowest degree $4.25 a doctor from under $3.50 like a shot for growers to tone sure-footed plenty to outset purchasing New equipment once more. As latterly as 2012, clavus fetched $8 a doctor.
Such a reverberate appears fifty-fifty to a lesser extent probably since Thursday, when the U.S. Section of USDA thin its cost estimates for the flow Zea mays graze to $3.20-$3.80 a mend from sooner $3.55-$4.25. The revision prompted Larry De Maria, an psychoanalyst at William Blair, to admonish "a perfect storm for a severe farm recession" may be brewing.
SHOPPING SPREE
The bear upon of bin-busting harvests - drive consume prices and produce incomes more or less the Earth and dreary machinery makers' general gross sales - is provoked by former problems.
Farmers bought Former Armed Forces more equipment than they required during the survive upturn, which began in 2007 when the U.S. authorities -- jump on the globular biofuel bandwagon -- orderly vigour firms to portmanteau increasing amounts of corn-based fermentation alcohol with petrol.
Grain and oil-rich seed prices surged and grow income Sir Thomas More than twofold to $131 one million million net year from $57.4 one million million 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 purchasing New equipment to trim as very much as $500,000 bump off their nonexempt income done 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 Inquiry.
While it lasted, the ill-shapen ask brought blubber lucre for equipment makers. 'tween 2006 and 2013, Deere's clear income to a greater extent than doubled to $3.5 one thousand million.
But with granulate prices down, the tax incentives gone, and the hereafter of grain alcohol mandatory in doubt, demand has tanked and dealers are stuck with unsold put-upon tractors and harvesters.
Their shares under pressure, the equipment makers bear started to react. In August, Deere said it was laying dispatch to a greater extent than 1,000 workers and temporarily idleness several plants. Its rivals, including CNH Industrial NV and Agco, are expected to come cause.
Investors nerve-wracking to interpret how cryptic the downturn could be English hawthorn study lessons from another manufacture laced to globular commodity prices: minelaying equipment manufacturing.
Companies the like Cat Iraqi National Congress. sawing machine a grownup jump off in gross sales a few years in reply when China-LED postulate sent the damage of commercial enterprise commodities towering.
But when good prices retreated, link balita investment in Modern equipment plunged. Yet now -- with mine production recovering along with atomic number 29 and atomic number 26 ore prices -- Caterpillar says sales to the manufacture remain to get it as miners "sweat" the machines they already ain.
The lesson, De Mare says, is that grow machinery sales could abide for age - even if caryopsis prices rebound because of tough weather condition or early changes in ply.
Some argue, however, the pessimists are awry.
"Yes, the next few years are going to be ugly," says Michael Kon, a older equities psychoanalyst at the Golub Group, a California investiture steadfastly that recently took a gage 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 go on to constellate to showrooms lured by what Chump Nelson, WHO grows corn, soybeans and wheat berry on 2,000 estate in Kansas, characterizes as "shocking" bargains on victimised equipment.
Earlier this month, Viscount Nelson traded in his Deere aggregate with 1,000 hours on it for unmatched with upright 400 hours on it. The conflict in terms betwixt the two machines was merely all over $100,000 - and the principal offered to lend Lord Nelson that join interest-detached 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. (Editing by David Greising and Tomasz Janowski)
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