1106 ET - Sentiment among farmers is down but that doesn't always mean agricultural equipment sales will decline, Jefferies analysts note. A Purdue survey showed U.S. farmer sentiment fell 12 points in March. Producers expressed concern about trade and policy uncertainty ahead of the now-paused tariffs. The capital investment index fell five points month-over-month, but is still elevated over the past three years. Equipment sales have historically been uncorrelated with both capital investment and sentiment, the analysts say. As for total high-horsepower tractor equipment sales in March, the analysts say it was down 15.6% for the month, "better than Deere's FY25 outlook for a 30% decline and AGCO's outlook for a 25% in NA large ag, possibly a response to tariffs which loomed in decision makers' minds last month," the analysts say. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
April 11, 2025 11:06 ET (15:06 GMT)
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