![Frankly-Speaking-logo](/ext/resources/2024/03/26/Frankly-Speaking-logo_0324_1000px-(1).png)
Dealers answering a recent Farm Equipment magazine survey are anticipating that equipment sales will be down significantly from 2023 levels. While this projection covers the general farm population, machinery purchases by no-tillers should be a bright spot for dealers in 2024.
Cropping an average of 1,086 acres, no-tillers who participated in the 2024 No-Till Farmer Benchmark Survey expect to spend $66,047 on equipment purchases, parts and service work this year. Strip-tillers expect to spend $93,488, down from an average of $96,438 in 2023 equipment purchases.
No-Tillers Ready to Buy Planters
Only 25% of dealers are forecasting at least a 2% growth in sales of planters, regardless of the tillage practices being used. This is down from 46% of dealers expecting similar growth in 2023.
On the other hand, 29% of no-tillers from our 2024 No-Till Farmer survey have plans to buy a planter in 2024. This increased from 11% in 2023.
Dealers forecasting sales growth of 2% or more in planter sales for 2024 hit a 5-year low of 25%, according to our 2024 Farm Equipment Dealer Business Outlook & Trends report. This figure peaked in 2022 when 46% of dealers were forecasting planter sales growth of more than 2% over the previous year.
According to our February 2024 Ag Equipment Intelligence Dealer Sentiments & Business Conditions update, dealers reported planter sales were down 8% in January, compared to December 2023. In the fourth quarter of 2023, planter sales were down 2% vs. the third quarter of 2023.
Other Bright Spots
Purchases of other equipment among no-tillers are also looking good for this year, based on our 2024 No-Till Farmer survey results:
- Some 18% of the surveyed no-tillers plan to buy a no-till drill this year, up from 8% in 2023. Only 15% of farm equipment dealers expect to see an increase of 2% or more in sales of no-till drills.
- 6% of no-tillers plan to buy an air seeder in 2024, up from 5% in 2023.
- Some 12% of no-tillers intend to buy a self-propelled sprayer this year. Among dealers, 26% expect to see 2024 sales of these sprayers increase by 2% or more this year.
- Some 9% of no-tillers anticipate buying a pull-type sprayer, up from 5% a year ago. Among dealers, 15% are anticipating a 2% or more increase in sales of pull-type sprayers this year.
- 13% of no-tillers expect to buy a strip-till rig, up from 5% in 2023.
- 12% of growers plan to buy a vertical tillage tool in 2024, up from 3% in 2023.
- No-tillers also expect to buy more precision equipment this year. This will be a big sales opportunity for dealers, as 41% anticipate that precision equipment sales will increase by 2% or more this year.
In the precision technology, services and equipment area, no-tillers plan to spend $8,099 this year, compared to $5,789 in 2023. Strip-tillers will spend $4,965 on precision technology this year, compared to $6,511 in 2023.
Unlike most U.S. farmers who are carefully watching their costs and are worried about profitability this year, no-tillers have the dollars and desire to make significant equipment purchases this year. So if ag equipment dealers are paying extra attention to you this year, now you know why.
Related Content
No-Till Farmer 2024 Benchmark Report
Buying A Planter? Get To Know Your Dealer First
No-Till, Strip-Till Out Yield Other Tillage Systems in 2023 National Corn Contest