Stifel: Used farm equipment auction prices rise in April while construction equipment shows mixed results

Investing.com -- Auction pricing trends for used agricultural equipment showed a slight year-over-year increase in April, while construction equipment displayed mixed results, according to Stifel.

The overall trends are improving following difficult pandemic comparisons experienced in 2024, the firm noted. The current year-over-year change in auction pricing is generally stronger than the change in asking prices across many equipment categories.

Stifel stated that asking prices better reflect actual trends in the broader used equipment market. The firm highlighted that auction pricing often precedes trends for asking prices.

The analysis is relevant for agricultural equipment manufacturers including AGCO Corporation (NYSE: AGCO), CNH Industrial (NYSE: CNH), and Deere & Company (NYSE: DE). It also applies to earthmoving equipment makers Caterpillar (NYSE: CAT), CNH Industrial, and Deere & Company, as well as aerial equipment manufacturers Oshkosh Corporation (NYSE: OSK) and Terex Corporation (NYSE: TEX), and general rental companies Ashtead Group (LON:AHT), Herc Holdings (NYSE: HRI), and United Rentals (NYSE: URI).

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