• Skip to main content

    Company Announcements

    December 1, 2025

    Tariffs bite Deere margins as ag chugs along

    Written by Laura Miller

    Deere & Co.’s latest earnings report put a spotlight on the mounting costs of tariffs across the agricultural and heavy machinery sectors.

    The Moline, Ill.-based global equipment manufacturer expects direct pretax tariff expenses of $1.2 billion for fiscal 2026 – double the prior year’s burden. Management confirmed a tariff run-rate of roughly $300 million per quarter, evenly spread. This has created sustained margin pressure across its key business units.

    Laura Miller

    Laura Miller is a reporter and editor for Steel Market Update. She has held various editorial positions with steel industry publications, associations, and mills since 2007. She joined the SMU team in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania.

    Read more from Laura Miller

    Latest in Company Announcements

    Nucor increases spot HR to $1,240/ton

    Nucor said on Monday, Oct. 12, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,240 per short ton (st) this week, a $10/st increase from a week earlier. The CSP for HR coil from California Steel Industries (CSI) on the West Coast will be $1,305/st, up $15/st from the prior week. Nucor is still offering lead times of three to five weeks, according to the letter to customers. You can track mill price announcements on our website. Steel Market Update (SMU) published a weekly price assessment on Tuesday, Oct. 6, showing HR coil prices averaging $1,270/st, up $10/st from the previous week. We will update our prices on the evening of Tuesday, Oct. 13.