A Wells Fargo Analyst says the equipment manufacturing demand cycle should bottom out within the next 12 to 18 months, signaling a turnaround for the industry. Nebraska Farm Bureau Senior Economist Jay Rempe says that indicates there is a glimmer of hope for the sagging ag economy.
He says because farmers are in the position of needing to replace equipment and can’t keep from doing that too long may be part of the optimism for the turnaround for equipment manufacturers.
Rempe says part of the answer to improving the agricultural economy likely lies with trade.
Rempe says the recent financial drop in the ag economy is likely due to a cyclical pattern.
