Takeaway
The presenter, Machinery Pete, highlights a strengthening trend in used machinery prices that began in mid-June. This view is supported by two recent, strong auction results: a near-record price for a 2001 John Deere tractor and a very high price for a 2024 Case IH model, indicating broad demand for good-condition used equipment.
What the presenter said
- Auction prices for used machinery have been strengthening since mid-June. [00:27]
- A 2001 John Deere 7710 two-wheel drive tractor with 2839 hours sold for $92,138 US dollars in Wheatley, Ontario, on September 8th. [00:39]
- The presenter notes this is the second-highest auction price ever recorded for this specific model. [00:59]
- A 2024 Case IH Steiger 745 Quadtrac with 1188 hours sold for $513,800 in Fairbault, Minnesota, on September 2nd. [01:37]
- This price is considered very strong, especially when compared to a similar 2024 model with fewer hours that sold for $491,830 US dollars six months prior. [01:52]
- The presenter concludes that values for good condition used tractors—new, big, old, or small—are increasing. [02:31]
Trade ideas
- None stated. The presenter's market view is bullish on the value of used tractors, based on the strengthening price trend observed since mid-June.
Levels and data cited
- John Deere 7710 (2001, 2WD, 2839 hrs) sale price: $92,138 USD (Sale on Sep 8th via Shackleton Auctions).
- Case IH Steiger 745 Quadtrac (2024, 1188 hrs) sale price: $513,800 (Sale on Sep 2nd via Matachek Implement).
- Comparative Case IH Steiger 745 (2024, 812 hrs) sale price: $491,830 USD (Sale in March).