December 2020
Is There Still Time to Sell Before Spring Planting? You Bet!
After months of strong auction prices on land and machinery, it’s only natural to ask as we move into December: Is there still time to get my land or machines sold?
The answer is a clear “Yes!” Not only is there plenty of time before spring planting, but the market remains strong for both land and machinery.
“I’m advising people to sell into the strength of the current market,” said representative Brad Olstad. “For machinery, the market is being driven by the high cost and limited availability of new equipment. There’s a lot of demand for late model equipment with a good pedigree and low hours,” he said.
“The market is discriminating, but it’s consistent. Buyers are focused squarely on machines that will likely provide the most efficient operating cost. What we’re seeing is that assets across the board are bringing a fair market value,” said Olstad.
Scott Steffes pointed out there’s really no “off season” any more when it comes to selling agricultural assets. “We still have very low interest rates, farm productivity has been great, and commodity prices have strengthened. I’m not sure what anybody would be waiting for at this point,” he said.
“Agricultural land tends to be held for generations, so there’s always strong demand relative to the supply. Scarcity always drives up prices, and there’s just not that much farmland available. This means that from the day you decide to sell your farm, you can generally get it sold in 30, 45 or at most 60 days,” said Scott.
Of course, there’s no substitute for an expert opinion on your specific assets, so if you’re considering selling, the best thing to do is call your nearest Steffes representative. You can find their contact information here.
