“Production and Precision Ag, our net sales forecast remains down between 20 and 25% for the full year.”

In context

“d weekend margins. Volatile weather patterns continue to drive commodity price and arable cash flow uncertainty, which is enhanced by slightly elevated input costs. However, dairy and livestock fundamentals remain healthy, providing moderate stability to the segment. In South America, we expect industry sales of tractors and combines to decline between 15% and 20%. Commodity price softening and elevated interest rates continue to pressure grower profitability, especially in Brazil, our largest market in the region. Fundamentals are further pressured by better than expected production in Brazil despite regional weather challenges and a slower than forecasted recovery in Argentina. Industry sales in Asia are forecasted down moderately. Moving on to our segment forecast beginning on Slide 7. Production and Precision Ag, our net sales forecast remains down between 20 and 25% for the full year. The forecast now assumes roughly two points of positive price realization and flat currency translation for the full year. For the segment's operating margin, our full year forecast remains between 20.5% and 21.5% despite muted demand. Slide 8, covers our forecast for the Small Ag and Turf segment. We expect net sales to remain down between 20% and 25%. The guide now includes two points of positive price realization and flat currency translation. The segment's operating margin continues to be forecasted between 13.5% and 14.5% in line with slowing net sales. Shifting now to construction and forestry on Slide 9, net sales for the quarter were down 13% year-over-year to $3.235 billion due to lower shipment volumes. Price realization was negative by one point. Currency translation was also n”