“ WE ’ RE finding that people are looking for efficient , economic kit that ’ s good value for money and not expensive to run ,” said Hannah Setchfield , director at RC Setchfield , which recently took on the franchises for Merlo telehandlers and Deutz Fahr tractors . “ They ’ re looking for one machine that does multiple jobs ; what ’ s essential rather than what ’ s luxury .”

Telehandlers can do a wide range of farm work , and farmers are increasingly looking for good quality second-hand equipment , although second hand prices have gone up as demand has risen , she said . Bigger estates with electrical infrastructure and net zero targets are increasingly looking at electrical vehicles , although most farmers are still on the fence when it comes to buying . “ The interest is there , but they want to know if it really has the power and capacity to do the work . There ’ s also uncertainty about charging infrastructure , battery life and second-hand value .”

At the smaller end of the scale is the Kioti tractor . “ People are questioning whether they really need a 200hp tractor – the Kioti is very popular for equestrian , golf , grass cutting and muck scraping uses .”

When it comes to capital investments , there is currently more demand for on-farm infrastructure than new machinery , according to John Bellamy , director at Business Finance Brokers . “ If people need to buy machinery then they will , but it ’ s a bit more out of necessity at the moment ,” he noted . However , investment in farm improvements or diversification is ongoing . “ Diversification and adding value have been the biggest things in farming in the past 10 years .”

The high interest rates are leading people to spread finance over a slightly longer term , and commodity price volatility is encouraging more to opt for monthly , rather than annual payments , he added . “ It ’ s easier to manage cash flow and it give them the flexibility to sell commodities when they want to .”

Efficiencies are also important when it comes to reducing emissions and improving the environment – something which the government ’ s environmental land management schemes ( ELMs ) are seeking to encourage . At the NFU conference , which took place alongside

the Midlands Machinery Show , Claire Robinson , NFU countryside adviser , explored the incoming options for the Sustainable Farming Incentive ( SFI ) and Countryside Stewardship scheme .

“ We ’ re expecting the SFI to cover precision farming and no-till in 2024 , alongside more cover crops and agroforestry . It ’ s about making more effective use of your inputs .” New technology like camera-guided precision sprayers could also potentially fall under government grant schemes . “ Defra sees ELMs as a way of creating resilience .”