According to data released by the AEA, for only the second time this year, the number of agricultural tractors registered in the UK in October was slightly above the five-year average for the time of year.

The monthly figure of 818 machines was still 19% lower than in the same month last year, though. That meant the total for the year to date reached 9,042, 16% fewer than in January to October 2023 and the lowest by this point in the year for four years. That is also 12% below average for the opening ten months of the year

Agricultural economist at the Association, Stephen Howarth, explained, "The market is being affected by the low level of confidence among farmers, due to a combination of lower prices, high input costs, poor weather and political uncertainty."