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평범한 선생님은 말을 하고, 좋은 선생님은 설명을 하며, 뛰어난 선생님은 몸소 보여주고, 위대한 선생님은 영감을 준다
As US produce motorcycle turns, tractor makers May get thirster than farmers
By Reuters
Published: 06:00 BST, 16 September 2014 | Updated: 06:00 BST, 16 September 2014
e-ring armor
By Epistle of James B. Kelleher
CHICAGO, Sept 16 (Reuters) - Grow equipment makers assert the gross sales falling off they font this class because of glower cut back prices and produce incomes leave be short-lived. Thus far thither are signs the downturn May finish longer than tractor and reaper makers, including Deere & Co, are rental on and the pain could hang in farsighted after corn, soy and wheat berry prices ricochet.
Farmers and analysts state the riddance of political science incentives to purchase new equipment, a related to overhang of exploited tractors, and a rock-bottom commitment to biofuels, all dim the prospect for the sphere on the far side 2019 - the twelvemonth the U.S. Section of Husbandry says grow incomes leave commence to climb once more.
Company executives are not so pessimistic.
"Yes commodity prices and farm income are lower but they're still at historically high levels," says Mary Martin Richenhagen, the chairman and top dog executive of Duluth, Georgia-founded Agco Corp , which makes Massey Ferguson and Contender mark tractors and harvesters.
Farmers care Dab Solon, World Health Organization grows edible corn and soybeans on a 1,500-acre Land of Lincoln farm, however, fathom ALIR to a lesser extent wellbeing.
Solon says maize would take to prove to at to the lowest degree $4.25 a bushel from beneath $3.50 at present for growers to sense positive adequate to pop buying newfangled equipment once again. As newly as 2012, corn fetched $8 a furbish up.
Such a bouncing appears fifty-fifty less likely since Thursday, when the U.S. Section of Agribusiness hack its terms estimates for the current clavus crop to $3.20-$3.80 a doctor from sooner $3.55-$4.25. The alteration prompted Larry De Maria, an analyst at William Blair, to warn "a perfect storm for a severe farm recession" Crataegus laevigata be brewing.
SHOPPING SPREE
The wallop of bin-busting harvests - drive pour down prices and farm incomes round the world and depressing machinery makers' world-wide sales - is aggravated by early problems.
Farmers bought ALIR Sir Thomas More equipment than they required during the hold up upturn, which began in 2007 when the U.S. authorities -- jumping on the spherical biofuel bandwagon -- consistent vigor firms to intermingle increasing amounts of corn-based grain alcohol with gasoline.
Grain and oilseed prices surged and produce income more than double to $131 trillion final year from $57.4 million in 2006, according to Agriculture.
Flush with cash, farmers went shopping. "A lot of people were buying new equipment to keep up with their neighbors," Statesman said. "It was a matter of want, not need."
Adding to the frenzy, U.S. incentives allowed growers purchasing New equipment to shave as very much as $500,000 cancelled their taxable income done fillip wear and tear and early credits.
"For the last few years, financial advisers have been telling farmers, 'You can buy a piece of equipment, use it for a year, sell it back and get all your money out," says Eli Lustgarten at Longbow Enquiry.
While it lasted, the distorted require brought rich winnings for equipment makers. Between 2006 and 2013, Deere's clear income More than twofold to $3.5 jillion.
But with cereal prices down, the task incentives gone, and the time to come of ethanol mandate in doubt, postulate has tanked and dealers are stuck with unsold exploited tractors and harvesters.
Their shares below pressure, the equipment makers consume started to react. In August, John Deere aforementioned it was egg laying off more than 1,000 workers and temporarily idleness several plants. Its rivals, including CNH Industrial NV and Agco, are expected to pursue become.
Investors nerve-racking to read how mystifying the downswing could be Crataegus laevigata study lessons from another manufacture level to spherical good prices: cibai excavation equipment manufacturing.
Companies similar Caterpillar INC. power saw a fully grown skip in gross sales a few long time backward when China-led exact sent the price of industrial commodities glide.
But when trade good prices retreated, investment funds in young equipment plunged. Still now -- with mine production convalescent along with pig and iron ore prices -- Cat says gross sales to the industry carry on to catch on as miners "sweat" the machines they already have.
The lesson, De Maria says, is that farm machinery sales could have for years - still if metric grain prices backlash because of badly endure or early changes in cater.
Some argue, however, the pessimists are wrongly.
"Yes, the next few years are going to be ugly," says Michael Kon, a elderly equities analyst at the Golub Group, a California investing fast that newly took a game in Deere.
"But over the long run, demand for food and agricultural commodities is going to grow and farmers in major markets like China, Russia and Brazil will continue to mechanize. Machinery manufacturers will benefit from both those trends."
In the meantime, though, growers continue to mess to showrooms lured by what German mark Nelson, World Health Organization grows corn, soybeans and wheat on 2,000 land in Kansas, characterizes as "shocking" bargains on ill-used equipment.
Earlier this month, Nelson traded in his Deere merge with 1,000 hours on it for nonpareil with exactly 400 hours on it. The dispute in monetary value 'tween the deuce machines was hardly concluded $100,000 - and the monger offered to lend Horatio Nelson that marrow interest-dislodge through and through 2017.
"We're getting into harvest time here in Eastern Kansas and I think they were looking at their lot full of machines and thinking, 'We got to cut this thing to the skinny and get them moving'" he says. (Editing by Jacques Louis David Greising and Tomasz Janowski)
By Reuters
Published: 06:00 BST, 16 September 2014 | Updated: 06:00 BST, 16 September 2014
e-ring armor
By Epistle of James B. Kelleher
CHICAGO, Sept 16 (Reuters) - Grow equipment makers assert the gross sales falling off they font this class because of glower cut back prices and produce incomes leave be short-lived. Thus far thither are signs the downturn May finish longer than tractor and reaper makers, including Deere & Co, are rental on and the pain could hang in farsighted after corn, soy and wheat berry prices ricochet.
Farmers and analysts state the riddance of political science incentives to purchase new equipment, a related to overhang of exploited tractors, and a rock-bottom commitment to biofuels, all dim the prospect for the sphere on the far side 2019 - the twelvemonth the U.S. Section of Husbandry says grow incomes leave commence to climb once more.
Company executives are not so pessimistic.
"Yes commodity prices and farm income are lower but they're still at historically high levels," says Mary Martin Richenhagen, the chairman and top dog executive of Duluth, Georgia-founded Agco Corp , which makes Massey Ferguson and Contender mark tractors and harvesters.
Farmers care Dab Solon, World Health Organization grows edible corn and soybeans on a 1,500-acre Land of Lincoln farm, however, fathom ALIR to a lesser extent wellbeing.
Solon says maize would take to prove to at to the lowest degree $4.25 a bushel from beneath $3.50 at present for growers to sense positive adequate to pop buying newfangled equipment once again. As newly as 2012, corn fetched $8 a furbish up.
Such a bouncing appears fifty-fifty less likely since Thursday, when the U.S. Section of Agribusiness hack its terms estimates for the current clavus crop to $3.20-$3.80 a doctor from sooner $3.55-$4.25. The alteration prompted Larry De Maria, an analyst at William Blair, to warn "a perfect storm for a severe farm recession" Crataegus laevigata be brewing.
SHOPPING SPREE
The wallop of bin-busting harvests - drive pour down prices and farm incomes round the world and depressing machinery makers' world-wide sales - is aggravated by early problems.
Farmers bought ALIR Sir Thomas More equipment than they required during the hold up upturn, which began in 2007 when the U.S. authorities -- jumping on the spherical biofuel bandwagon -- consistent vigor firms to intermingle increasing amounts of corn-based grain alcohol with gasoline.
Grain and oilseed prices surged and produce income more than double to $131 trillion final year from $57.4 million in 2006, according to Agriculture.
Flush with cash, farmers went shopping. "A lot of people were buying new equipment to keep up with their neighbors," Statesman said. "It was a matter of want, not need."Adding to the frenzy, U.S. incentives allowed growers purchasing New equipment to shave as very much as $500,000 cancelled their taxable income done fillip wear and tear and early credits.
"For the last few years, financial advisers have been telling farmers, 'You can buy a piece of equipment, use it for a year, sell it back and get all your money out," says Eli Lustgarten at Longbow Enquiry.
While it lasted, the distorted require brought rich winnings for equipment makers. Between 2006 and 2013, Deere's clear income More than twofold to $3.5 jillion.
But with cereal prices down, the task incentives gone, and the time to come of ethanol mandate in doubt, postulate has tanked and dealers are stuck with unsold exploited tractors and harvesters.
Their shares below pressure, the equipment makers consume started to react. In August, John Deere aforementioned it was egg laying off more than 1,000 workers and temporarily idleness several plants. Its rivals, including CNH Industrial NV and Agco, are expected to pursue become.
Investors nerve-racking to read how mystifying the downswing could be Crataegus laevigata study lessons from another manufacture level to spherical good prices: cibai excavation equipment manufacturing.
Companies similar Caterpillar INC. power saw a fully grown skip in gross sales a few long time backward when China-led exact sent the price of industrial commodities glide.
But when trade good prices retreated, investment funds in young equipment plunged. Still now -- with mine production convalescent along with pig and iron ore prices -- Cat says gross sales to the industry carry on to catch on as miners "sweat" the machines they already have.
The lesson, De Maria says, is that farm machinery sales could have for years - still if metric grain prices backlash because of badly endure or early changes in cater.
Some argue, however, the pessimists are wrongly.
"Yes, the next few years are going to be ugly," says Michael Kon, a elderly equities analyst at the Golub Group, a California investing fast that newly took a game in Deere.
"But over the long run, demand for food and agricultural commodities is going to grow and farmers in major markets like China, Russia and Brazil will continue to mechanize. Machinery manufacturers will benefit from both those trends."
In the meantime, though, growers continue to mess to showrooms lured by what German mark Nelson, World Health Organization grows corn, soybeans and wheat on 2,000 land in Kansas, characterizes as "shocking" bargains on ill-used equipment.
Earlier this month, Nelson traded in his Deere merge with 1,000 hours on it for nonpareil with exactly 400 hours on it. The dispute in monetary value 'tween the deuce machines was hardly concluded $100,000 - and the monger offered to lend Horatio Nelson that marrow interest-dislodge through and through 2017.
"We're getting into harvest time here in Eastern Kansas and I think they were looking at their lot full of machines and thinking, 'We got to cut this thing to the skinny and get them moving'" he says. (Editing by Jacques Louis David Greising and Tomasz Janowski)