Tractor Sales Rise in August
9/12/2007

Sales of tractors and combines rose in August, boosted by demand for higher horsepower tractors, according to a recent report by the Association of Equipment Manufacturers. Total sales of farm wheel tractors increased 2.9 percent to 17,209 from 16,727 in August 2006, the report said.

Association of Equipment Manufacturers
http://biz.yahoo.com/ap/070912/farm_equipment_sales.html?.v=1

Sales of tractors with horsepower of at least 40, but under 100, rose 13.6 percent to 6,744, while sales of tractors with 100 horsepower and higher increased 30.8 percent to 1,084.

But sales of tractors with under 40 horsepower fell 6.1 percent to 9,237, the group said. Sales of sell-propelled combines jumped 46.5 percent to 772.

So far this year, total tractor sales are up 0.5 percent to 155,541 from 154,730 at the same time last year. Combine sales are up 14.2 percent to 4,180 from 3,660.

UBS' David Bleustein said he expects demand for agricultural equipment to continue to improve, based on current elevated crop prices and the results of dealer surveys.

However, the analyst reiterated his "Neutral" rating for Deere & Co. and "Sell" ratings for Agco Corp. and CNH Global NV, saying that there is a risk that corn prices could fall into the harvest and put pressure on their shares.

Deere shares fell 3 cents to $138.26, while Agco shares fell 32 cents to $43.95 and CNH shares rose 79 cents to $53.74.

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