RB Global Inc. announced last Wednesday (March 4) it will buy Nebraska-based BigIron for an undisclosed sum, expecting to close the deal in the second half of this year.

BigIron, whose roots in the auction business date back to 1984, is now billed as “a scaled, agriculture-focused online marketplace connecting buyers and sellers of agricultural equipment, land, livestock, and other farm and ranch assets.”

According to RB Global, BigIron processed about $885 million in gross transaction value in the 12 months ending last Sept. 30, including about $520 million worth of farm assets and vehicles and about $365 million in farmland and real estate transactions (all figures US$).

“BigIron brings a talented team with deep ag sector knowledge and an established sales footprint that will continue operating as a stand-alone brand while being complemented by the Ritchie Bros. industrial footprint,” RB Global CEO Jim Kessler said in a release. “This will create opportunities to serve even more customers through a combination of onsite, offsite, and digital channels and solutions.”

BigIron co-founder Ron Stock noted BigIron will remain a stand-alone operation within RB Global, with he and co-founder Mark Stock “involved in the business as usual.”

“Through this combination, we gain a larger platform and additional resources, which is expected to help us deliver even greater choice and liquidity to all the sellers we serve,” Mark Stock said in the same release.

RB Global dates back to the founding of Ritchie Bros. in Kelowna in 1958, from which it expanded its services into the U.S. and overseas and bought several Canadian and U.S. auction firms, becoming publicly traded in 1998. Its corporate headquarters has since moved to the Chicago area.

In its last fiscal year ending Dec. 31, RB Global booked $412.8 million in net income on total revenue of $4.28 billion, handling a gross transaction value of $15.9 billion.

The post Ritchie Bros. parent to buy online auction firm BigIron appeared first on Canadian Cattlemen.

Year-to-date sales of tractors were down 0.3 per cent compared to 2024, while combine sales were up 1.6 per cent.

Total four-wheel drive tractors sales fell by 22.5 per cent. Total two-wheel drive tractor sales rose by 0.8 per cent.

In November, sales of two-wheel drive tractors under 40 horsepower were down 10.2 per cent compared to November of 2024 while sales of tractors with more than 100 horsepower were down 18.6 per cent. Sales of tractors with between 40 and 100 horsepower were up 11.8 per cent compared to the same month last year.

Four-wheel drive tractor sales fell by 50.6 per cent compared to last November. Combine sales were up 25.6 per cent.

Canadian equipment sales fared better than U.S. sales. At the end of November, year-to-date sales of all tractors were down 9.7 per cent in the U.S. Combine sales were down 38.3 per cent.

Downward trend continues

Overall, farm equipment sales in both countries have been trending down in recent years.

In late 2023, Farm Credit Canada warned that the year’s robust sales were unlikely to continue. The farm lender said sales had been strong thanks to the resolution of pandemic-era supply chain issues and strong farm cash receipts. However, drought in Western Canada and softening commodity prices were likely to take their toll.

Sales declined in 2024 as predicted, and in November 2024, FCC again predicted a slump in 2025 as farmers faced low commodity prices and high equipment costs.

Tariff impacts

This was before U.S. President Donald Trump took office and announced sweeping tariffs — including on the imported steel and aluminum needed to build machinery.

In late November, farm equipment manufacturer Deere & Co said it expected tariff impacts on the company to come in around US$600 million (C$826.1 million). It predicted a pre-tax tariff hit of around US$1.2 billion (C$1.65 billion) in 2026.

Low crop prices and high production costs were prompting American farmers to put off purchases or opt for used equipment. Deere has considered production shifts, higher prices and widening its portfolio to used equipment.

CFRA Research analyst Jonathan Sakraida said he does not expect Deere to recover until fiscal 2027, adding that the company struggled to offset tariff impacts.

—With files from Reuters

The post Canadian tractor sales slumped in 2025, combine purchases up appeared first on Canadian Cattlemen.

Additional and sometimes confusing information began to slowly filter out from the U.S administration later in the day.

A ‘monkey with a machine gun’

“It’s like a monkey with a machine gun, they’re going in all different directions,” said Automotive Parts Manufacturers’ Association president Flavio Volpe during a televised interview on CBC the next day. “The fact they don’t understand this or don’t care is going to crash the U.S. auto sector.”

The belief this tariff would seriously harm the auto industry in all three countries was reiterated by University of Toronto professor Dimitry Anastakis, who spoke on an Energy Media podcast on Thursday.

“This is going to go down as one of the greatest own goals in economic and policy history. This is crazy.

“The auto industry is one of the most competitive and difficult industries in the world in the best of times. When you add in that we’re trying to make this transition from an ICE (Internal Combustion Engine) to EV (Electric Vehicle) future and face competition like China, which is already so far along, to turn around and disrupt and insert so much chaos into the North American sector when legacy manufacturers like Ford and Stellantis are just trying to catch up is asinine.”

According to Cox Automotive’s senior economist Jonathan Smoke, who spoke on an industry insights and sales forecast call, the tariffs will cause a significant reduction in industry output, raising new and used vehicle prices and force the elimination of some vehicle models.

“If there are no carveouts for autos, the tariffs would add $3,000 to U.S. made cars, and $6,000 or more on a vehicle assembled in Canada or Mexico. If tariffs go through this time, by mid April we expect disruption to all North American vehicle production, amounting to 20,000 fewer vehicles produced per day, which is about a 30 per cent hit to production.”

Disrupted production

The uncertainty caused by the on-again-off-again tariff threat has already disrupted production of some vehicles and slowed or stopped capital investments.

“A few weeks ago Ford announced it was going to delay the next generation F-150 because of all the chaos around tariffs that Trump has created,” said Anastakis. “So it’s not just hurting EV rollout, it’s hurting the very manufacturers Trump was supposed to protect and support.”

The goal of the tariffs, according to the U.S. president, is to bring automotive manufacturing back to the U.S. But currently there are about 700 different manufacturers in Ontario alone that supply components to the auto sector. Then there are many more in Mexico. It’s improbable to think they can all relocate to the U.S. in the short term to avoid tariffs.

Experts generally doubt the U.S. could ever return to the kind of manufacturing economy it had in the 1950s, especially when it comes to automotive production. Not all of those needed support sectors could operate economically in the U.S.

“There are some specializations in Canada,” said Anastakis. “Whether it’s tool and die, mold manufacturers, aluminum production — you cannot replicate that in the States. So these border tariffs are going to have a tremendous impact.”

Transition to electric vehicles

A critical goal for future viability of North American auto companies is to catch up to China in the transition to electric vehicles. China has all the resources it needs to form a complete supply chain in that production cycle, from raw materials through to manufacturing facilities. That gives it a key advantage in the EV market.

However, Canada was set to play a key role in bringing similar advantages to North American companies. It has critical minerals as well as new production facilities.

“When I saw this announcement that they were going to go through with this on automotive, I said to myself, ‘they’re popping champagne in Beijing,’” added Anastakis. “The United States hobbled its own industry without the Chinese having to lift a finger.

“There’s a very good chance in 10 years we’re all going to be driving Chinese EVs, whether they’re made in China or elsewhere in the world, because this is a pivot moment, it’s a paradigm shifting moment. I don’t know how the industry is able to recover from this, when they’re already facing such incredible burdens to begin with.”

“We’re at an interesting crossroads today in 2025,” agreed Smoke. “The problem is a substantial change in trade policy due to tariffs will be highly disruptive to North American vehicle production.”

Said Volpe: “Maybe he (Trump) has to send the U.S. over the edge, have hundreds of thousands of auto workers at home before he understands the depth of the problem he’s caused.”

The post ANALYSIS: U.S. auto sector tariffs an “own goal” appeared first on Canadian Cattlemen.

“Farmers are looking for cost saving measures including delaying purchases and planning to further reduce equipment costs,” said FCC senior economist Leigh Anderson in a news release accompanying the report.

“As demand slows and prices adjust, there may be opportunities for producers who are looking to invest in new farm equipment.”

The year began with a surge in demand for machinery, particularly combines and four-wheel-drive (4WD) tractors, Anderson wrote. Slowing sales in the U.S. allowed manufacturers to send pre-orders to Canada earlier.

However, sales are forecast to decline for the remainder of the year and into the next. New equipment sales are expected to be soft as farmers face low commodity prices, high equipment prices and lower profits, though the decline in 2025 is expected to be less severe than in 2024. Sales of 4WD tractors are projected to stay above the five-year average, Anderson said.

Combine sales are expected to decline nearly seven per cent in 2025 compared to the five-year average. Tractors between 40 and 100 horsepower are expected to decline nearly 21 per cent, sales of those below 40 horsepower are expected to drop nearly 29 per cent, and those above 100 horsepower a bit more than six per cent, according to FCC calculations.

Early arrival of new equipment has led to more trade-ins. Used equipment sales are down about 20 per cent compared to the same time last year.

American farmers have also struggled with slumping farm income, which has led U.S. machinery manufacturers to cut production. Deere & Co said today it expected net sales to fall about 10 to 15 per cent across all machinery segments. CNH Industrial and AGCO have also trimmed profit expectations.

FCC predicts that as sales slow, machinery inventory will build up and prices will continue to adjust throughout next year. Lowering interest rates may also ease financial pressure and make it easier for farmers to buy equipment.

While crop prices are expected to remain low next year, cattle prices have been strong. This could encourage cattle producers to upgrade equipment, however many of those operations are still recovering from drought years and high feed costs.

The post Canadian farm equipment sales projected to slump in 2025 appeared first on Canadian Cattlemen.