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Cereals 2018: Weaker pound supporting machinery market

European buyers were involved in the market due to the weaker pound


Alex   Black

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Alex   Black
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Cereals 2018: Weaker pound supporting machinery market #cereals18

Second hand machinery sales were buoyant with European buyers looking to take advantage of the weaker pound supporting the market alongside a shortage of machinery coming forward.

 

Hay making machinery was selling particularly well as usual at this time of year according to Cheffins director Bill Pepper.

 

“The market is still very good. We have had one or two big on farm auctions and collective sales. It is still very buoyant,” he said.


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“It is underpinned by overseas trade. The pound is still trading at a favourable rate.”

 

There was a ‘general shortage’ of second hand machinery coming forward with people buying less new machinery.

 

Spanish

 

Mr Pepper highlighted Spanish buyers, who were particularly keen on John Deere equipment but there were buyers from all around mainland Europe looking to take advantage of the weakness of sterling.

 

“We have buyers in Germany, Belgium, France, one or two in Holland. It is difficult to say there is any one hotspot.”

 

Mr Pepper added beside the effect of the weaker pound on export sales, he did not think Brexit was driving farmers to make decisions.

 

“I am not getting any farmers saying we are putting anything in for this sale because we are unsure,” he said.

 

“There is uncertainty. There might be one of two farmers who are looking to sell while things are good.

“Speaking to the farmers they feel there are good opportunities to be had from Brexit.”

 

He added looking forward they had a good amount of sales in the pipeline.

 

“I think prices are going to maintain the level that we are seeing currently,” he said.

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