Demand outweighs supply. Machinery Pete Greg Peterson says supply chain issues and the lack of available new machinery continues to keep used equipment prices moving higher. “I’ve never seen anything like in the 32.5 years I’ve been tracking auction prices. It went higher all of 2021 and now, in 2022. It’s like a rocket ship.” Because of parts and supply chain issues, Peterson is seeing used equipment being used as a hedge. “It’s coming off last fall when the parts and availability issue became problematic. Even if you wanted to get that new tractor, planter or combine, you couldn’t get your hands on it. That spooked people. We’re seeing people buying that nice 300 horsepower tractor just to have it.”
