Farm machinery makers see big dip in demand

Shares of farm equipment firm Deere & Co are down 8% on weak third-quarter results as analysts say other agricultural firms are also hurt in an industry downturn.

The maker of John Deere-branded agriculture, construction and forestry products blamed the weak farm economy and softer demand for construction equipment.

“There is a huge concern among the equity community that any agriculture, and also any commodity-based company, is now seen in a bearish light,” said Rich Nelson, an analyst at Allendale.