Greg Peterson is an expert on farm life. In his work, he observes trends in farming and recently, he said that the hottest selling items in the farm equipment sector are used tractors.

According to Peterson, the used farm equipment market is hot right now as farmers are reporting higher farming income, but are still somewhat reluctant to invest the capital necessary to purchase brand new tractors as they wait to see how the economy moves forward. Peterson asserts that used low hour tractors are selling like hot cakes.

Currently, two used tractors he is watching on the Iowa market are both John Deere tractors: One is a 1998 JD 8100, while the other used tractor is a 1999 JD 8100 MFWD used tractor. Peterson affirms that both John Deere tractors are on the auction block, where he expects them to fetch "record high auction sale prices," like similar models have.

Peterson tells Agriculture.com that used tractors in good condition are becoming an increasingly popular choice for farmers and are rising in value as demand grows for them and manufacturers reduce their supply of new tractors.