Deere & Co cut its 2024 profit forecast on Thursday as farmers remained hesitant about big-ticket equipment purchases due to high borrowing rates and falling crop prices, even as its first-quarter sales and profit topped Wall Street estimates.
Machinery
Deere cuts 2024 profit view as borrowing costs hurt demand
Executives expressed caution about margin performance amid weakening farm economy
Combines launch into the spotlight at National Farm Machinery Show
With over 800 exhibitors occupying more than a million square feet of space at the Kentucky Exposition Center, it’s pretty much A-Z when it comes to the display of agricultural wares at this year’s National Farm Machinery Show. Two well-known machinery brands took this opportunity to pull back the curtain and showcase their latest offerings […] Read more
New Holland’s T9 tractor picks up speed, and more
It’s big, blue and likely to get the attention of farmers if they’re eyeing up a new tractor in 2024. At a National Farm Machinery Show pre-show media event in Louisville, Kentucky, on Feb. 13, New Holland product reps were on hand to show what the blue brand has in store for growers and show-goers […] Read more
Linamar makes Bourgault buyout official
Company says it hopes to double Bourgault's business in five years
Linamar's acquisition of air-drill manufacturer Bourgault has officially gone through, the company announced yesterday.
Başak Traktör of Turkey looks to move Versatile brand forward
Buhler Industries announced the Turkish firm had bought its majority stake
“One of the keys for us was making sure we found a partner that was committed to preserving the Versatile and Farm King brands,” said Adam Reid, VP of sales and marketing at Versatile. “We wanted to make sure the viability of the plant here in Winnipeg and our staff was secure. And taking care of all of our stakeholders, the suppliers, shareholders.”
Bourgault becomes third shortliner acquired by Linamar since 2017
Leadership say they want to double the business of the maker of Highline equipment and Freeform Plastics
In 2017 Linamar, a company best known as an auto parts manufacturer, purchased Winnipeg-based header and swather manufacturer MacDon. It followed that up by bringing implement brand Salford into its fold in 2022. In late December the company announced it is now adding Saskatchewan-based air drill manufacturer Bourgault into its family of shortline ag equipment brands.
Buhler Industries finds new majority shareholder in Turkish firm
Saskatchewan's Bourgault Industries changes hands
It was a big week for western Canadian machinery manufacturers as Winnipeg-based Buhler industries inked a deal that will see a Turkish company purchase its majority stake, and Guelph-based manufacturer Linamar Corporation acquired Saskatchewan’s Bourgault Industries.
Smart farm competition encourages farmers to adopt technology
Competition will serve as opportunity to create and develop smart farm networks
The Canadian Agri-Food Automation and Intelligence Network (CAAIN) is seeking applications for a competition geared toward creating or developing new smart farm networks. Funding under this initiative will support collaborative on-farm tech innovations in hopes encouraging farmers to adopt emergent agriculture technology. CAAIN receives funding from Innovation, Science and Economic Development Canada to address challenges […] Read more
Tractors continue unusually strong sales in November
Many types of machinery have seen price hikes of around 30 per cent or more
The growing price of farm equipment is not dissuading farmers from buying new machinery, according to the latest data from the Association of Equipment Managers (AEM).
Coalition seeks farmers, ranchers to join climate change forum
Farmers for Climate Solutions aims to gather diverse viewpoints
A farmer-led group is hoping to cut through the politics surrounding climate issues by bringing together a diverse group of Prairie farmers and ranchers for discussions around sustainability. “There’s a number of loud voices that tend to dominate the conversations,” says Ian McCreary, a grain and cattle farmer from Bladworth, Sask. McCreary is co-leading the […] Read more
Canadian Cattlemen Presents: Depth of Field
