NORFOLK - Farmland and equipment markets are on the up and up, and many factors are playing a role.
Co-CEO of BigIron Auctions Mark Stock says in terms of machinery rates there are high commodity prices driving that as well as baby boomers retiring which has some folks expanding their land and in return expanding their arsenal of equipment.
Stock says COVID-19 is playing a role as well.
"Some of the manufacturers had to slow down their production runs because of COVID and now it's a little while longer to get new items in your possession of you're an end user and that is what's creating also a drive up in our equipment markets.”
Stock says looking at the auction block now semis and grain trailers are hot items.
He adds you should keep your attention on carbon credits when it comes to your farmland.
For more information go to BigIron.com.