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Farmers in Canada are buying tractors and combines at a much stronger pace than last year at this time. According to a report published by the Association of Equipment Manufacturers (AEM), tractor unit sales were up 36% during February 2013 in comparison to February 2012. Four wheel drive tractors led the charge being up 128.1% in comparison to a year ago. Year to date 4WD tractors are up 128.4%.
Combine sales were up 58.9% for Feb 2013 compared to Feb 2012. Year to date (Jan and Feb) combine sales in Canada are up 21% in comparison to a year ago.
It will definitely be interesting to see if this YTD trend continues through the rest of 2013. The strong numbers speak to the cash that farmers have based on the strong commodity prices.