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:

• Whether 2026 feels worse, better, or just different than 2025
• How auction results compare to manufacturer reports
• Why big iron like high-horsepower tractors, combines, sprayers, and planters is under pressure
• What equipment is still selling well
• Which machines are sitting longer than expected
• Who is selling right now: retirements, dealer trades, financial stress, or right-sizing
• Who is still buying aggressively
• Whether bankruptcies and forced liquidations are really increasing
• What separates successful sales from disappointing ones
• Why photos, records, transparency, and seller reputation matter more in a softer market
• What farmers should do today if they plan to sell equipment in the next six months

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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