All posts tagged: pinch

North American Farmers Pinch Pennies on Farm Machinery as Profitless Growing Season Approaches

North American Farmers Pinch Pennies on Farm Machinery as Profitless Growing Season Approaches

REGINA, Saskatchewan, April 3 (Reuters) – Farm machinery salespeople are wrapping up a ⁠dismal ⁠season of farm shows across North America as ⁠farmers gear up for spring planting without much new equipment.  Farmers have not stopped buying, but many have ​slashed spending and are avoiding big-ticket items due to high machinery, fertilizer and fuel prices, as well as a global grains glut pushing down crop prices.  “They might ‌not buy the million-dollar combine, but they’ll ‌buy a $100,000 implement,” said Chad Jones of manufacturer Degelman Industries, standing among his company’s rockpickers, harrows, rippers and other yellow-painted equipment at Canada’s Farm Show ⁠in March.  Farmers are ⁠still spending money, but far less than in other years, according to sales data from the ​Association of Equipment Manufacturers, the organization that represents big players in the North American industry.  The group told Reuters that sales of big-ticket items like tractors and combines were down between 30% and 40% in the U.S. in March compared to a year ago. Farm machinery sales have been hammered by a squeeze on farmer finances exacerbated by …