Despite concerns over rising costs and current economic challenges in agriculture, the market for used equipment remains ...

Another week, another record shattering used farm equipment auction. This one took place last Friday in the Hawkeye State near Kingsely, Iowa, and it had Machinery Pete scouring the record books.

Greg "Machinery Pete" Peterson said auction sales of late model used large farm equipment have soared while prices have plummeted. He talked about the state of the industry at the Big Iron Farm Show.

A model that fetched $300,000 during the pandemic is now selling for about $265,000 to $275,000. According to Greg Peterson, known as Machinery Pete, the market for used farm equipment is just ...