00:00 What's the situation on used machinery? Are prices going up? Did interest rates have an impact on this? And if you're considering buying, 00:06 should you do that now or should you wait? These are just some of the discussions we're gonna cover in this edition of Extreme Ag Cutting the Curve. 00:13 Welcome to Extreme Ag Cutting the Curve podcast, where we cut your learning curve with insights you can apply immediately to your farming operation. This episode is presented by Loveland products. 00:25 When it comes to crop inputs, you need products that are field proven to deliver both results and value. For more than 50 years, 00:32 Loveland products has been providing farmers with high performance value-driven product solutions designed to maximize productivity on every acre. 00:41 Visit loveland products.com to see how their innovative products can help you farm more profitably. And now here's your host, Damien Mason. 00:49 Hey there. Thanks for joining us for another fantastic episode of Extreme as Cutting the Curve. You got Jeff Willie on here with Dumas, I'm sorry, doulas Auction, 00:58 uh, uh, service out of Wellman, Iowa. Jeff and I, uh, were in Iowa together, uh, this past weekend, and we were discussing, uh, 01:07 the job that he does working in the auction business. And I said, you know what, what's going on with, uh, iron? Uh, 01:13 a few years ago we talked about how you couldn't even get stuff and then the whole pandemic, and then there was supply chain problems, 01:19 and then you couldn't get parts, but also you couldn't get new stuff. So there's been kind of a, 01:23 a marketplace and turmoil from an outsider's perspective. Admittedly, you that are listening to this probably buy more farm machinery than I do. 01:30 I have a Kubota 47 horse utility tractor, and some attachments go on the back of it. So admittedly, you're probably closer to it. And obviously Jeff is the expert here and not me. 01:40 That's why I said let's come on the air and let's talk about this. So in a nutshell, hasn't it been kind of, um, 01:49 ag got really good, um, in the last couple of years. So there's money that usually means that machinery farmers like to spend an update machinery when they make money. Uh, 02:01 also we had a bit of a turmoil in the place where, in the marketplace where there was stuff not being available. So kind of take me over the last couple of years of what's going on. 02:11 Then we'll get to actual trends right now in terms of, uh, the money prices. Sure. Right. Yeah. Thanks Damien. Uh, yeah, you're right. 02:19 You touched on a lot of it. Uh, back when the Panda pandemic hit, you know, we couldn't get things, uh, 02:25 guys were getting what they could get and what they needed to get by with. I had a neighbor that, uh, was wanting a brand new quad track tractor, 02:34 couldn't get it. Went to a year old, uh, quad track and, uh, with low hours on it. Uh, yeah, things are, 02:41 things on the use side are doing really well or selling really low hours Still. And by the way, we're recording, we're recording this, uh, 02:51 first week of August in 2023. So depending on when you listen to it, you might say, oh, that sounds outdated. Well, 02:57 right now things are doing very well. You're telling me. Yes. Yeah. Uh, again, you know, and, 03:03 and the bottom line on the farmer on farmers, uh, is, you know, they're gonna watch their bottom line and the interest rates right now have 03:12 crept up through the bank, but also the, the companies, the big manufacturers are not offering that attractive of interest rates for new equipment to buy for from them. They used to be, 03:25 but that's not the way it is right now. So farmers, of course, if you can buy a five to eight year old tractor that you can get the 03:33 technology in it that you want, and, uh, if you can buy that tractor at maybe three quarters of the price of a new one, have less interest rate that's gonna help their bottom line. 03:44 Or not less interest rate, but less interest to make their payments a little less. Yeah. The rate, the rate remains the same. But if you have a, if you're taking, 03:51 if you're shaving a couple hundred thousand dollars, which really on these machines of today, you might be shaving a hundred, $200,000 off of the price by grabbing a few years old. 04:00 You bet. You bet. And that not only goes for tractors and combines, but, uh, tillage and, uh, and planters. I mean, it's a, it's a thing where, you know, 04:08 like I said, the big thing these days I think, or now is, is if you can get the technology you want on some of those things, 04:16 and a lot of them can be retroactive onto some years or two, some years. The other part I think about, uh, on this, on the used equipment is, 04:27 you know, a lot of farmers don't want to have to deal with, uh, the diesel fluid, exhaust fluid or the def 04:34 Def Yeah. So, And they haven't dealt with that. So, Yeah. So answer me this, the def thing. I've heard this before. It's, it's a real thing and it's from equipment of a certain year and a newer you, 04:48 but then if you have an older one, you don't have to fool with all that. It's an environmental thing. What's the year that it, what's the, 04:54 when's the cutoff? I believe it's 2016. Damien. It was when that all took a place. So we've been dealing with it for a while and, and that's probably what, 05:04 you know, it's about in that same area where the, uh, the, uh, used equipment has taken off. Uh, like I said, 05:12 if they've never had to deal with it, they don't want to. Or if they do deal with it, 05:17 they know what it's like and they still don't want to, that Props up the value then of, uh, seven year old machines. 05:25 But that's gonna become less and less of a point as we get further away from the year 2016, uh, model year. So when we talk about the, 05:33 the interest rates, you know, we're talking about a doubling and, uh, I explain this all the time. People say, oh, interest rates went up by 4%. 05:42 No, the truth is they went up by 100% in terms of, if you look at money as a input, if it was 4% money and now it's 8%, let's just say that's rough numbers, 05:54 that's a doubling of interest. Which means if you're buying a half a million dollar piece of equipment or a million dollar piece of equipment, 06:00 which there are far machines that are million dollar piece of equipment, you're talking about paying a heck of a lot more interest, then you'd say, well, 06:06 that should probably tend to prop up lesser priced stuff, which means the used market. 06:12 But the used market was already going pretty damn gangbusters before the interest rates. So take me kind of help me understand that. 06:19 Well, I, you know, I don't know if there was a time in there where maybe it was gonna tail off a little bit Damien, and we got into this situation, or like I said, 06:27 the farmer just looking at that bottom dollar all the time, that bottom line and saying, Hey, you know, 06:33 why spend that half a million dollars on a combine? I can get one here that's probably in that three to $400,000 range and get set up. I can still get the technology. I want a low armor machine, 06:47 and it'll still do what I was looking. I I, maybe there's better times, you know, a farmer's mentality is, well, 06:54 the next crop or the next year is always gonna be better. What you're seeing at these auctions, uh, there you are, you, you know, 07:01 and I'm talking about machinery in particular. Let's not talk about household goods or, you know, selling the estates, right? Yeah. Proposed shop. Well, we talk about this machinery, like you said, 07:11 maybe it was going to taper off and then the interest rates put a fire back under it again. Wasn't there a time, 07:18 I'm almost thinking like four years ago, there was a time when used combines were getting darn cheap because there was a glut of them. And I remember someone telling me that, but again, 07:30 I'm not in the auction ring like you are. Did did used combines go through a lull there a few years ago. Yeah. And I, I'm not sure what it was, but did they, 07:38 and then that backed up the new combines, you know, there was a lot of guys buying those new machines, running them for a year and then trading 'em in and get a new one, 07:47 and their payment would remain the same. Well, some of the dealers couldn't move that one year old machine on the backside, and that kind of hurt things. And they were making some pretty good deals. 07:58 And again, they lowered their interest rate a little bit on that to make it more attractive for those one year old machines. And, uh, that's, 08:07 that's where we ran into some problem on that end. What is slow? Uh, okay, so combines are not slow. You're telling me that in the used market, used combines are holding up well? 08:18 Yes. Mm-hmm. Yeah. Yeah. Yeah. What's slow? Tractors, sprayers, small equipment. 08:28 I would say sprayers because there's not a lot of guys that have got those self-propelled sprayers yet. I think those have came be, 08:36 have backed off somewhat. Uh, but everything else seems to be going, you know, if you've got a, a used piece of equipment equip in your, 08:45 in your shed and you want to, you want, you're thinking about either updating or maybe don't need it anymore. I would say right now is an awful good time to be, be moving that on. 08:56 Now when I say used good used, I mean, being able to pull it out of the shed, get a good cleaning, don't come around it with the rattle. Can spray, can Yeah. Weld on it. You know, 09:08 it's something that looks pretty good just in its everyday clothes. And that that'll, that'll really, 09:14 I think you'll be satisfied with the prices it brings. Yeah. What about, um, the, the reality that we're gonna make a little less money this year? You know? Yes. 09:25 Last year was a record year, uh, at the farm gate. And so we're not gonna be in record, but we are projected to be in positive territory. Do you see a, 09:36 a slowing or a cooling from last year? Did, was there a whole bunch of people there at the end of the year trying to get rid of their, their, their gains? 09:45 Yeah, they're probably, there is some of that, but that's every year with a farmer, you know, they, they're always, they're always that way. I don't know, 09:53 is that this year's gonna be any different? Uh, if it'll slow down, you know, maybe they'll, that may help. That used equipment, again, 10:01 it may bump that bottom line up, you know, bump that, uh, the amount they'll pay for that used equipment, bump that up a a little higher, 10:09 yet we may see less variance between used good used and new equipment. Mm-hmm. Uh, you know, 10:16 it only takes two at an auction and things get kind of crazy. Right. Well, you're talking about what you see in Iowa, 10:22 which is obviously a pretty good bellwether. What are you hearing from the other states? Is it different state to state, or is it kind of the same story? And I'm talking generally in the ag belt. 10:32 Right, right. You know, from what I've been hearing, it's, it's pretty good everywhere for the used equipment. You know, it, 10:39 it depends on a little bit on weather. Now where I'm at in, uh, in central Iowa, east central Iowa, we're going through a little bit of a dry period now. Uh, 10:48 things may slow down, back off a little bit that a little bit with that, but I think going forward on any of the other places that have good weather, 10:57 the race will be on. Yeah. So if there's a, if there's a little bit of a slowdown, uh, I don't know this, and you probably do, if, if we start in say, 11:06 20 24, 20 25, see years that, uh, and it happens. I've got a chart, I have a chart right over here, in fact of the, uh, farm income numbers. And it's pretty remarkable. You need to say, oh, well, 11:19 we're not gonna go back. I've got this chart right here, Jeff, and it's, I won't bore you, but I'm holding it up if you're, if you're listening, 11:27 driving down the road, know that I just put this graph up. But the point is, uh, this year we're projected to be $137 billion of farm revenue. 11:36 We were $163 billion of farm income last year. And to put that in perspective, in just 2019, we were at less than half of that in 2019. 11:47 We were less than half of what we were in 2022. So it can change quickly, you know what I mean? So if we do something like that, 11:55 if we go down to being like 80 billion or 90 billion of farm revenue, farm income here in another couple years, who gets hurt the most? 12:03 Is it the used the person that should have gotten their, sold, their used stuff, or is it the, 12:07 is it the John Deere and the case and the New Holland dealer down the road? You know, I think John Deere and Case New Holland, 12:14 they're all gonna be okay if we go backwards a little bit. But I think they may cease a little bit of tightening of their belts a little 12:22 bit. You know, their, their quarterly reports may come back a little bit, not so favor favorable to them. Uh, you know, everything, 12:30 I think everything will back down a little bit on that situation if that happens. When and if that happens, if anybody tells you they can predict that. 12:39 I think they're selling you a bag of goods, but, uh, yeah. You know, if it does, if it does, I think, I think the top end stuff, the, the more expensive stuff, 12:48 again, being a farmer myself, uh, that's where we cut first, you know, we'll, we'll maybe do with another year or look for something used. 12:58 Uh, again, good used equipment. Uh, one of the companies we work with is fent, and they're part of agco and they, uh, you know, 13:09 pretty advanced machines, uh, over in Europe. The guy that rents my farmland is a dairyman. And he was fast to adopt, uh, the, and bring fence over from Europe before they were even here in, 13:20 in mass at the used level. Are you seeing more of that? I mean, are you seeing more of these, uh, like European machines, 13:28 maybe a Klaus or a Fent or something like that? Or, uh, is there still a resistance? I know that obviously those people where you are probably really bleed green, 13:36 but, uh, there's some really good machines out there that aren't John Deere's. Yeah. Yeah. And we do see a little bit in that in our area. Uh, 13:45 we had a pretty good McCormick run there for a while. We, we do sell, see a little bit of that. And, you know, 13:52 there's some people that really enjoy like the McCormick, uh, they're doing all right. Yeah. I think, you know, we see a little bit of, 13:59 of the smaller brands, the Fent in our area, like you said, have hasn't been much yet. Um, McCormick, uh, 14:08 Massey seems to be making a little bit of a comeback on that end. Uh, but, uh, yeah, that, that's about all we have round in this area. 14:16 You had advice for the person that says, okay, I need to buy stuff. What's your, if, if you were, if it's your money, 14:23 what do you think right now here we're summer, late summer of 2023, and then the next year you've gotta make some equipment decisions. 14:30 Do you pull the trigger now, uh, because it's gonna get more expensive? Is there an inflationary, uh, trend going on here or does it get more, 14:38 or does it get more reasonable, uh, moving forward because of, uh, some market forces? What's your thought? 14:44 Well, Damien, let's be one thing for sure. Before we go any further. I'm not a banker or an economist. 14:50 I never said I have never will be. But I think, you know, with, with, uh, the doing the auctions, 14:57 the less competition is always more beneficial for you. So I think if you can see it coming down the road and can get something bought now, I think you'll be better off. However, 15:08 and having said that, our, our, uh, machinery markets, or our machinery auctions haven't really started yet. You know, we're probably looking into that September october, where, 15:20 where we'll start getting a little busier with those. But, uh, you know, if you can get those bought, I think before the end of the years, because, uh, 15:28 I don't know about you, but I'm a procrastinator. A lot of guys out there. Okay. 15:34 Yes. So I want to ask you the, the last couple of remaining questions about, uh, marketplace and your predictions, and we're gonna do rapid fire. 15:41 Before we do that, I want to, I wanna ask the listener, do you know that, uh, last year's stalks retain 80% of the potassium, 40% of the phosphorus, 15:50 and 30% of the nitrogen that you applied to last year's corn crop? So the point is, what you're putting on your fields right now, 15:55 what you put on in the fall, what you put on the spring, what you're putting on the summer, 15:59 all of that is going to be tied up in all of your residue. So why don't you save money and boost your yields by extracting last year's 16:06 fertility for this year's crop? How you do that by applying extract to your residue extract is a product from Loveland products. 16:13 Visit Loveland products or contact your local nutrient ag solutions representative. 16:18 Basically you're just talking about getting the fertility that you've already spent the money on that's already in that residue and getting it back in an 16:24 available source for this year's crop. Okay. Um, you talked about categorically, um, and I wanted to see, okay, utility tractors, and now that's obviously grown. Utility tractors used to be like 20, 16:37 30 horsepower stuff. Now you're talking about 80, 90, a hundred horsepower stuff, utility tractors or something with a loader on it. Um, hot or not hot. 16:47 Hot. And I think will remain that way because we've got a lot of people buying acreages still do. 16:53 And they're gonna need that little tractor tole the driveways in the winter and, and do things that they may want to do around. So I think we're, 17:00 we're pretty good there. Okay. So utility track, and that's smaller scale utility tractors, they get the bigger stuff that livestock people, 17:07 there's less livestock in the countryside. There's the same number of livestock, but it's more consolidated. Right. 17:12 Did that take away demand for the larger loader tractors, or are they still hot? Well, like you said, they're, they're, 17:19 they're the same amount of head out there. It's just less people. So that means their operations are growing. 17:25 They're gonna need those bigger tractors with those bigger loaders and, and, and stuff like that to, to handle what they've got. We've seen a little bit of, 17:33 uh, interest on end loaders, uh, you know, the articulated steering end loaders. And that's, 17:39 that's kind of a new category that's kind of coming into the ag market. You're, 17:43 you're talking about like something that would resemble almost a small pay loader as we used to call it? Yes. 17:48 Yeah. End loader payload. Yeah. Kind of depends on where you're at in the country, what you'd call it. Yeah. Yeah. And that's gonna be for mostly livestock type operations. 17:57 Yeah. Yeah. I think. Okay. Then speaking of, you know, scale, I know a bunch of farmers that in the old days would've never had this. 18:05 Now they have some excavating equipment. 'cause they do the, all their own, they manage their own drainage, they do their own fixes and, and tile work, 18:12 et cetera. On the farm market. Are you seeing, you know, excavators, mini excavators and that kind of equipment come through? 18:20 I would think that there's, it's getting bought and sold somewhere. Yeah. Many excavators have been hot now for, 18:25 I would say three to five years for the last three to five years. Uh, easier to move around, you know, on your place. You don't need the big low boys, 18:34 the big semis, but, uh, takes a little bit longer to get it done. But there has been a step up in that, the bigger track hoe, what I call a track, 18:42 the excavators, uh, dozers, uh, you know, crawlers, they're, they're really, there's a lot of guys doing that. And a lot of it is because, 18:52 you know, the guys that own them and do that for a living can't service everybody in that fall time when the, when the fall needs it. So that's, 19:00 that's where some of it's been picked up. And if they're doing any amount of it, it sure it, it would pay to maybe have your own. 19:08 Yeah, that's probably an issue of that. You're talking about that I've seen more and more where you've got, uh, you've got the timing issue where, you know, uh, 19:21 the farm operator says, I wanna get this done. Well, the three excavators that they normally do business with are slammed. So that's why it justifies none that stuff. Skid loaders, my brother, 19:31 the dairyman once made the point that we never had as much of a problem with surplus dairy products in this com country until, um, 19:38 u skid loaders became ubiquitous on America's dairy farms because it made you so much more productive and it made the work easier. 19:45 Instead of it being completely backbreaking, it was only partially backbreaking. Right. 19:48 Skid loaders, Uh, skid loaders moving well. Yeah. Again, good ones. Uh, we recently had an auction, uh, with the skid loader on it, maybe didn't bring what it, 19:59 what we felt it should be, where it should be. But again, some of it's the size, uh, you know, it, it needed some, uh, 20:08 needed some tires on it, and then tires are a big issue, so that hurt it some, uh, you know, but the skid loader, uh, it's like the forklifts now too. 20:18 Uh, if you don't have one, you wonder one, you get one, you wonder how you got along without it, you know, it's a, it's a deal. I, I have that I put on the front of my utility tractor, 20:30 and I've been doing that for a long time out here at this farm, and all the repairs and all the stuff that you do, even putting a skid on it, 20:37 then you can get up and, and do high stuff. It's almost usually like a scissors lift. Um, I, I've wondered exactly how did I get by without these forks for so long? Uh, 20:47 and then you talked about combines. Combines are hot again, and I, I swear I remember that there was a situation where we thought we had 20:53 overproduced new combines and we had glutted the market. And you're telling me that doesn't seem to be the case there, there, 20:59 the movement is still fine. Well, I, you know, it was tough getting those new combines out to the producers for a while because we couldn't get the technology from China or whatever the story was on that. 21:10 Uh, I think, you know, there's, they maybe scaled back, I think a little bit on the producing of them, of the, of the combines. So that's helped us a little bit. Uh, yeah, you know, the, the new, 21:22 the new combines when you're talking half a million dollars and it's, it's a, 21:28 it's a quite an expense even for the guys running a lot of acres. I've seen a lot of guys that run worked, uh, trading every year. 21:38 And maybe it's now it's every two years, right? Right. I'm not sure a million doll, half a million dollars would, would grab you a new, uh, 21:45 A new No, no, no. Not with not, not set up with both heads and ready to go. No. No. 21:52 Okay. And then the one area that you see softening, you said sprayer's a little bit soft. And so in the used market, the only area, the areas of softness are where 22:01 I would say that the, uh, single use sprayers, in other words, the, uh, yeah, the, the just a sprayer. Uh, 22:08 there's a lot of variance in those on what, what you have and what you need. We're looking at a lot of foil, uh, you know, foil, uh, spraying over the top. 22:18 Some of the sprayers aren't tall enough for that, so that's kind of softened that market up there a little bit too. I think Damien, 22:24 And you said the planting equipment, you, you know, I did a segment with the extreme ag guys and there's this obsession that you've gotta have new farmers love to go and kick the bricks, you know, 22:33 go to the Farm Machinery show in Louisville, and they, God, they just, there's like, like little kids at a candy land walking around down there. But, 22:41 um, Kelly, Kelly Garrett has a combine that's, uh, 11 years old and, but it's been updated and retrofitted a couple of times with the modern 22:50 technology. So you actually could make the case for buying a used planting piece of equipment as long as you put the right updates on it. 22:59 Right. And I think that's what, when, when you're talking about they go to the farm shows and they, they look at these planters with all the updates and the seed firm and the 23:08 inroads and the, uh, electric clutches or the clutches in it and everything, you know, from port rows and everything, I think they'd look at that and say, 23:15 Hey, how can I put this on my existing planner? Mm-hmm. You know, it's setting at that farm show with an on a new planner. 23:24 Can I make this work on my planner or is it something that I'm gonna have to update with my to a new planner? And, 23:30 And as, and to your point, it's, uh, the planners are actually planners and are holding up Okay. At the farm sales. Yeah. Yeah. And, you know, a planter, uh, well, you know, we've got the, 23:42 the bulk fill from the row, you know, fill in row has made some of that a change. You know, again, it depends on the acreage, but uh, 23:50 a lot of guys like to fill that bulk tank and not have to worry about every row. Makes it a little faster filling. 23:56 What about, uh, drills? You talk about planting equipment, you know, 30 years ago or so, uh, 24:02 there was a lot of more drill drilled beans and, and drilling going on. And seems to me that unless you're, um, I, 24:10 I'm guessing you don't see that many of 'em anymore. No, we don't see a whole lot of 'em. But if we do, there's some, there's a lot of, uh, there's a lot of interest in for a couple reasons. 24:19 A lot of guys, you know, uh, doing waterways, doing turn strips, buffer strips, also the interceding, you know, where we go in or the, you know, 24:27 for the cover crop mm-hmm. That's made a huge come, made it for a huge comeback for those drills. I see. Uh, they, you know, we don't get one in, if we get one in, there's a lot of interest in it. 24:38 Okay. And then does that generally, are no-till set up to be no-till drills? Or does that matter? 24:44 Uh, doesn't seem to matter a whole lot, guys. It'll take the extra time, get it put in, you know, with a, 24:50 with incorporated or get it worked out beforehand in the fall. Uh, yeah, it doesn't seem to matter. 24:55 A whole bunch a no-till is just a little bit of a bonus. Mm-hmm. Uh, and then, uh, what did the, what did I not ask about? Oh, uh, 25:04 you talked about tillage equipment. Um, it seems to me that, uh, one third of all the farmsteads in America have an old, uh, 25:12 an old style moldboard plow sitting around. And they should have, they should have gone to an auction and then there was no more demand for them 25:19 except for the scrap yard. Uh, is tillage equipment, are you seeing as much of it with, I would like to think that we're doing less tillage, 25:27 which is good for the ground. So that means there should be less used tillage equipment coming around or having demand for it. What are you seeing? 25:33 Yeah, I think there is a little bit less for that, but some of the, the fall equipment that we use, you know, 25:39 maybe the detail with the disc on it or you know, or something like that, that we can get done in the fall doesn't put as much pressure on the spring. 25:47 You still, a lot of guys think, Hey, we still gotta tear that up two, three years, you know, get, get something worked up. So they'll, the, 25:55 that fall tillage equipment has been pretty, pretty su sustained, pretty good. I'm, I'm, 26:02 I'm generally the opinion that there should never be such a thing as fall tillage being done, but, uh, it's not, it's, 26:07 it's not me that's paying $15,000 for the acre of ground to let it to, to plow it up and let it wash away. So what the hell do I, yeah. Um, 26:15 what thing did I not ask about what, what thing is happening? You're in there, you're on the auction block or you're in the ring. What, uh, 26:22 what thing are you seeing that I've forgotten to ask? Well, I think some of the things that, that we touched on, or that we think about on the auction is a lot of the online auctions, uh, it, 26:32 it's, it's a great, it's a great aspect to have an online auction, but when we have usually have it in person and online 26:42 at time, and, uh, we've got a lot of guys that, you know, they still like to kick the tires and feel the steel, we call it. You know, 26:51 they like to be out there and, and seeing that piece. And they'll drive some pretty good distances just to see that because we're are still live. Yeah. And on the internet, 26:59 the internet has helped us big on open on that end. But, uh, I know our recent, one of our recent auctions, I think we only had, 27:09 of the bigger pieces of equipment, we probably only had about 15 to 20% that weren't sold on the ground. Uh, 27:18 Yeah. So only 15 to 20% were, uh, internet. The rest of 'em were people that were right there. You know, I'm kind of an old, I'm a traditionalist like this. I mean, it's one thing to go on Amazon and buy, 27:29 uh, you know, a pair of slippers, but I'm not sure that I'd want to do the online auction thing. I, I also have been to auctions and, uh, I, 27:38 I told myself I'm not gonna bid against the phone. Uh, you know, I just, I just don't feel right about that. I'm like, I don't know, 27:44 this guy might over here just be calling time and temperature and pretending he's talking to a bidder. So I'm not sure I'm gonna do that. Okay. So, uh, 27:51 from the auction standpoint, you're still seeing a lot of in-person, uh, you still see a, a lot of action and, uh, it's, it's not as though it's uh, 28:00 it is not as though there's a softening right now. And, and we are. So yeah, we're coming into, 28:04 generally a lot more of this stuff happens between about what, November and, uh, March. 28:08 Yeah. We'll, we'll start picking up here in September, October, you know, then it'll, 28:13 it'll taper off a little bit during harvest for us harvest at that time. And know November, December we'll get some in, you know, 28:20 after the first of the year even, we'll get some interest in some selling some stuff if they're looking, if they're getting close to being ready to retire or changing something or, 28:29 you know, things like that. That's the last question I have for you. There's been discussion for, since I was a child about the aging American farmer and then there's the 28:39 consolidation thing. And so then the question is, okay, are we really gonna see this thing where a whole bunch of older, smaller equipment gluts the market? And it's, I've, 28:49 I've been hearing about for a long time, but it seems as though it, it's not ever been a real thing. Is it? 28:55 You know, the older, the older stuff, uh, like, uh, for instance, I, I still have a 42 40 John Deere. Uh, now we're getting into that, 29:04 where that's where somebody wants to redo it, you know, polish it like the one they have, have it restored, you know, and uh, that's kind of a neat thing. 29:14 And it also goes back to those are also popular for that acreage guy maybe wants to have a few cattle, 29:21 maybe still needs something to level off the yard and move the snow stove. Yeah. Clip, clip the pastures. The, you 29:27 Bet you, you Bet the person with 40 acres in the country and a, and a and a dream and a job in town still needs, uh, 29:33 so they can buy that what you're talking about. It's like a 40 year old cab tractor. You bet. Yeah. Yeah. And that's helped that market. 29:40 And you also get those older fellas in there that wanna have, they maybe had one, their dad had one or they used one at one time. Yeah. 29:48 You know, the sentimental issue, sentimental value is, is, is still good and, and strong in the auction business. 29:55 So a 1967, I think it would be, or 68 Oliver, 1850, uh, we had on the farm growing up, I've said that I'm gonna buy one of those, uh, for sentimental reasons. 'cause I was, 30:08 that's where part of my hearing went was on that Oliver 1850. The problem is, uh, that means I gotta keep one more thing running. So I'm, 30:15 I've stayed out of the sentimental market for that purpose. Right, right. And finding that 1850 Oliver right now might be a tough part. 30:24 You know, they're, they're, they're, they weren't made for a whole long time and it's been a long time since they were made. So the, you know, if you can find one, 30:33 the old saying is you're gonna drive your wheels off boys to find one holds true. 30:38 Yeah. But now that I know that you're an auction guy and you like to sell stuff, you'll be calling me next week saying, Damien, you wouldn't believe it. 30:43 But guess what? I just, I just, I guess what I just consigned, I just consigned an auction and Oliver 1850. Alright, 30:49 I'll tell you what, Damien, that's my job right there. That's right. That's right. So I'll have one, 30:54 I'll have a flatbed pulling in here with a 55 year old tractor here in another few days. All right. His name's Jeff Willie. 31:01 We're talking about what we're seeing out there. So I guess that's our parting shot. Is there anything else I need to know? You said go ahead and you think buy now. You, you're, you're, uh, 31:09 you're not just saying that 'cause you're the auctioneer, but, but seriously, one year from now, I know none of us have a crystal ball. 31:17 You think these numbers hold up one year from now on a Use? If they, if they do fall off, Damian, it's not gonna be a really, really drastic fall off, you know, 31:27 I think maybe if our interest rates tick up again or it depends on where you're at. Again, if your numbers are down, maybe your yield isn't quite as good. 31:36 Mm-hmm. Uh, you know, as you thought, that may hurt it some, but, uh, you, you, you still need to keep updated. You, you know, they, 31:44 and it's cheaper than new. His Name's Jeff DOAs, auction service out of Wellman, Iowa. I suppose you could look them up at doulas auction service, 31:56 I suppose they have. You be. Yeah, we do have a website. Yep. All right. Go to find DOAs, D U W a DOAs Auction Service. Uh, 32:04 this episode was brought to you by our good friends over at Loveland products. Make sure you check out all the cool stuff they have. His name's Jeff Willie. 32:10 My name's Damian Mason. Thanks for being here. Thanks for joining us. Thanks for having me, Damien. 32:15 Always a pleasure. We'll do this again in another year and we'll see if your predictions All right. Until next time. 32:20 I don't know if I like that idea. Until Next time. This extreme eggs cutting the curve. That's a wrap for this episode of Extreme Eggs Cutting the Curve. 32:29 But there is plenty more available by visiting Extreme Ag Farm. For over 50 years, 32:35 farmers have turned to the proven lineup of crop inputs offered by Loveland products, from seed treatments, plant nutrition, adjuvant, 32:42 and crop protection products. Loveland has the complete lineup to keep your farming operation productive, and most importantly, profitable. Check out loveland products.com to learn more.