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DEKALB, Illinois (Reuters) - Falling crop prices are leaving agriculture equipment sellers with an excess of unsold tractors and combines. To cope with the surplus, dealers are discounting ...
Agricultural equipment is any kind of machinery used on a farm to help with farming.The best-known example of this kind is the tractor.. From left to right: John Deere 7800 tractor with Houle slurry trailer, Case IH combine harvester, New Holland FX 25 forage harvester with corn head.
Agricultural machinery relates to the mechanical structures and devices used in farming or other agriculture. There are many types of such equipment, from hand tools and power tools to tractors and the countless kinds of farm implements that they tow or operate. Diverse arrays of equipment are used in both organic and nonorganic farming.
The agricultural machinery industry or agricultural engineering industry is the part of the industry, that produces and maintain tractors, agricultural machinery and agricultural implements used in farming or other agriculture. This branch is considered to be part of the machinery industry .
The competition for track-type farm equipment increased in 1925 when the Holt Manufacturing Co. and the C. L. Best Co. of San Leandro, California, merged to form the Caterpillar Tractor Co. When wheat dropped to 25 cents a bushel in 1931, farmers could not afford new farm implements and the new Avery Power Machinery company could not pay its debts.
Ritchie Bros. Auctioneers was established in Kelowna, British Columbia, Canada. A Canadian company which the three Ritchie brothers – Ken, John and Dave Ritchie – took over the OK Used Furniture Store from their father in 1955. They entered the auction business in 1958 when they needed CA$2,000 to pay a bank debt on short notice.
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