Tractors...sticking it to the farmer

In the summer of 2023, my family faced one of the most devastating challenges we’ve ever endured—a barn fire that destroyed all our equipment. The emotional and financial toll was immense. Replacing our tractor was particularly daunting. We couldn’t afford a new one and spent three grueling weeks searching for a used model that fit our budget. During those weeks, the ranch felt like it was slipping through our fingers. It took an entire year to recover from the setback, and we only made it through thanks to the incredible support of our local community.

Experiences like ours are becoming all too common in agriculture. Tractors are not a luxury; they are a necessity for anyone managing 10 acres or more. Yet, the soaring cost of this essential equipment is crushing farmers and ranchers across the country. Did you know that only 10-20% of farmers fully own their tractors without loans or financing today? Most rely on equipment loans because the upfront cost is simply too high.

This isn’t just a story about one family or one community. It’s a systemic issue. According to AgNews, 158,000 farms and ranches across the U.S. are projected to close this year. The price of food continues to climb, and we’re becoming increasingly reliant on imports like beef from Brazil to fill the gaps. This is not sustainable, either for the agricultural industry or for our nation.

So, what’s causing this crisis? Tractor prices have skyrocketed, with new cab models costing upwards of a million dollars. While inflation and manufacturing costs play a role, they don’t tell the whole story. Reports suggest that many workers in the manufacturing sector haven’t received meaningful pay raises, raising questions about where these price increases are coming from.

For years, tractor manufacturers have claimed to support small businesses, family farms, and first-generation ranchers. But actions speak louder than words. It’s hard to reconcile this support with the pricing structures that are driving farmers and ranchers out of business. If you’re going to advocate for agriculture, it’s time to put your money where your mouth is.

This isn’t a call for handouts or government bailouts. Farmers and ranchers are proud, hardworking people who just want a fair shot. What we need is a commitment from tractor manufacturers to lower costs, work with steel suppliers to reduce material expenses, and create financing solutions that make equipment accessible to small-scale operations.

Agriculture is not like other industries. The American people cannot survive without food. Unlike fashion, music, or entertainment, there’s no substitute for the commodities that sustain life. Food production is not just an industry—it’s a cornerstone of our nation’s survival.

If tractor manufacturers continue to price equipment out of reach, they will have a direct hand in ending multigenerational agriculture. When family farms and ranches disappear, they don’t come back. And the consequences will be felt far beyond rural America.

We often look back at moments in history with admiration for the ingenuity and community spirit that defined us. During World War II, flour manufacturers used printed fabric for sacks so women could repurpose them into dresses. This wasn’t just about practicality; it was about embodying the American spirit.

Today, that same spirit is needed more than ever. It’s time for tractor manufacturers to step up and embody the principles they claim to support. Our nation’s farmers and ranchers are counting on you.

https://www.fbn.com/financing/equipment-loan#:~:text=Equipment%20loans%20can%20be%20used,depending%20on%20the%20borrower’s%20needs.