When Will The Other Shoe Drop? Machinery Pete on Future of Used Farm Equipment Values

Machinery Pete has been asked a growing number of times throughout 2022, “Pete, when will the other shoe drop with used equipment values and how far will they fall?” Pete tackles this question head-on diving deep into multiple sources of market data and relevant anecdotal stories and comes out with an answer that will surprise many if not most in the ag space.[1:11] - Machinery Pete’s intro - “When will the next shoe drop?”[3:55] - Iowa farmers sell Peterbilts for more than what they paid new[8:01] - Ritter Cox anecdote on equipment wait times, high prices[10:58] - The shoe can’t drop - times are different now[17:31] - Larger dealerships’ approach to the market[20:01] - The pandemic’s impact on the ag equipment market[23:20] - What’s ahead with this market and what should the farmer do?[35:27] - Record prices of the last two months[46:52] - Final words from Machinery PeteMachinery Pete was founded in 1989 and has grown from its humble beginnings to a full-fledged marketplace for farming equipment. Greg Peterson, founder and host, has also released Machinery Pete content across platforms including YouTube with his long-running Machinery Pete TV show.If you'd like to receive new episodes as they're published, please subscribe to the Machinery Pete Podcast in Apple Podcasts, Google Podcasts, Spotify or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show.