$183,000 Tractor Sale Signals Hope for US Farm Recovery

A 104-year-old Illinois farmer's sale of his farm equipment has sparked hope for a US farm recovery, as rising crop prices and tight tractor supplies fuel optimism that a prolonged farm-machinery slump is finally bottoming out.

Donald R. 'Shorty' Peterson, who has been growing corn in Illinois for over seven decades, has decided to retire and put his Deere & Co. tractors and combines up for auction. The sale of the equipment, which includes a green-and-yellow tractor that sold for $183,000, comes at a telling time.

'I'm tired of the work,' Peterson said in an interview. He has been running the farm equipment for many years, and his decision to sell is seen as a positive sign by some industry experts who believe it may signal the start of a recovery in the US farm sector.