With manufacturers calling 2026 the bottom — or near-bottom — of the current large-ag equipment cycle, farmers are left trying to answer a big question: is this a buying opportunity, a warning sign, or both?

Luke and Andy bring real-world auction data and market perspective to help explain what’s actually happening with equipment values right now.

We discuss:

The conversation also goes beyond machinery. We talk about the broader forces shaping buyer psychology, including tighter credit, repayment stress, interest rates, trade uncertainty, tariffs, Farm Bill delays, and global headlines.

Then we connect equipment values to farmland.

Land values remain strong in many regions, but cash flow is tightening. That raises an important question for farmers: are we becoming land rich and cash poor?

Luke and Andy share what they’re watching in the farmland market, whether strong land values are still supporting confidence, and why machinery could stay soft even if land remains firm.

Finally, we look ahead to summer and fall 2026. Will there be a seasonal bounce after planting? What needs to happen for the market to improve? And what could make it worse?

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