NewsMontana AG Network

Actions

Montana Ag Network: China trade war impacts farm supply businesses

Posted: 9:29 AM, Aug 26, 2019
Updated: 2019-08-26 12:37:38-04

Trade tensions continue to put a damper on every aspect of the agricultural industry.

John Deere for instance reported a sales and revenue decrease of 3% for the third quarter of 2019.

In a statement John Deere Chairman and CEO Samuel Allen said: “Third-quarter results reflected the high degree of uncertainty that continues to overshadow the agricultural sector."

Although not directly calling out the tensions with China, they likely have played a part.

On a local level, the sales outlook for farm implement remains a bit more positive.

“Even with some of the trade tensions out there, pricing, you know we still see a lot of optimism in the market," said Drew Lesnik, director of remarketing at Frontline Ag Solutions.

The reason Montana has seen less of a decline in implement sales is due to the fact that the states staple crop hasn’t experienced near the decline as those of the Midwest.