Market Watchers Share Optimistic View for Ag Equipment Manufacturers in 2020
March 17, 2020 The clocks have been sprung forward, the coldest winter days have passed, and a hint of spring is in the air across most of the country. As ag retailers and their grower-customers gear up for another busy planting season, the winter indoor show season is rapidly receding from memory. But before we completely close the book on these events, a look back at some of the key takeaways is in order.
Now I know going into the 2020 winter show season, many people in the industry were probably wondering what the overall mood of attendees would be. Afterall, 2019 was one of the roughest, most disruptive growing seasons agriculture has witnessed since the “farmageddon” occurred during the early 1980s. Would this “mood whiplash” carry over into the new year?
In a word, no. Overall, thanks in part to government assistance, agriculture did just fine financially during 2019, with grower revenue topping $92.5 billion. And most of the attendees at this winter’s trade shows were just as positive for the 2020 growing season.
“We should be fine this year,” said most responders, in one manner or another. “If the weather cooperates and some trade movement takes place, 2020 could be another strong year for us.”For the most part, equipment manufacturers echoed this mood with their exhibit floor choices. In fact, at many traditional ag retail equipment maker booths during the winter shows, there were plenty of new pieces of Big IRON squarely targeted at the grower community.
So overall, if observers are to be believed, 2020 is looking like it will be a more “normal” year than agriculture has seen over the past few seasons. Let’s hope this is indeed the case.
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