with machinery going out of
warranty,” says Steinkamp. “Some
producers will be basing trade-ins
on limiting those costs.”
One northwest Iowa
dealer says that in addition to
maintenance, resale value has also
played a significant role in local
trade-in and sales activity.
“Some customers don’t want
to worry about having as many
wear parts. As a result, we’ve
experienced stronger demand for
tractors and harvest equipment
over implements and planters,”
says West Bend Red Power Store
Manager, Joe Montag.
“We’ve also noticed tractors
having more appeal than other
equipment sectors because of their
utility from one farmer to the next.
Due to size and cost, some of the
larger planters and combines have
a limited pool of secondary buyers,
so tractors have become popular
because of their resale value.”
focus on cash - flow
When it comes to equipment
financing, Steinkamp says finding
the right options often starts with
a conversation about cash-flow.
“As margins have tightened,
customers have become more
focused on comparing payment
options, calculating cost per acre
and structuring their financing
to meet their cash-flow needs,” he
says.
“At AgDirect, we have a lot
of options we can put in front
of producers in addition to the
traditional loan products they
are accustomed to seeing, and we
have many tools and resources –
including our AgDirect Mobile
app – to help them determine
what they can comfortably afford.”
Making an equipment
purchase this year? Contact your
nearest AgDirect territory manager
or the AgDirect Finance team at
888-525-9805.
AgDirect is an ag eqipment financing
program offered by FCS Financial and
the partners of AgDirect, LLP. Available
through equipment dealers, the program
offers highly competitive options for buying,
leasing and refinancing with quick decisions
and flexible terms.
Register to Attend a Free Ag Seminar.
On Monday, September 10, join us in Springfield to hear Dr. David Kohl and Mark Russell.
The meeting will be held at the Ozark Empire Fairgrounds, 3001 N Grant Ave, Springfield, Mo. Registration
begins at 5 p.m. and adjourns at 9 p.m.
Dr. Kohl, Professor Emeritus of Agricultural Finance and Small Business Management and Entrepreneurship
at Virginia Tech, will present an agricultural update and the road ahead. Hear his key points on global economic
trends and the state of the US economy. Dr. Kohl will also share common business and financial practices that
will proactively position your business, regardless of economic cycles.
Mark Russell, Executive Director of the Missouri Beef Industry Council, will speak about the top issues
facing Missouri beef producers in today’s market.
On Tuesday, September 11, we will be in Columbia with a program for young, beginning
producers featuring Dr. Kohl and Richard Fordyce. The meeting will be held at the Hilton Garden
Inn, 3300 Vandiver Drive, Columbia, Mo. Registration begins at 9:30 a.m. and adjourns at 3 p.m.
At this seminar, Dr. Kohl will share trends in agricultural economics and specifically address how they can be
a challenge and an opportunity for young and beginning farmers.
Richard Fordyce, Administrator of the U.S. Department of Agriculture’s Farm Service Agency (FSA), will
discuss programs available for young, beginning farmers through FSA.
Finally, engage with FCS Financial experts during a panel discussion. Have your lending and insurance
questions answered by local staff who understand agriculture, farming and finance.
Meals and refreshments will be provided at each meeting. Space is limited and advance reservations are required
by September 4. To reserve your spot, register online at www.myfcsfinancial.com or call your FCS Financial office
at 1-800-444-3276.
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