District dealers were optimistic that strong sales would continue over the second quarter, and they expect a very robust summer. March sales are said to be particularly strong, while April sales are mixed relative to March. The current inventory position of District dealers is ample, and no shortages were reported. Despite the continued strength of new car sales, sales of used vehicles have also surged in 2000. Agriculture Corn planting is reportedly 28 percent complete in Kentucky.
Some expansion is reported in Ohio livestock herds.
Crop prices are low compared to a year ago, but prices for hogs, pigs, and beef have increased from low levels in the past months. In agricultural labor markets, wages have been increasing in line with other industries and with inflation. Most farmers are working hard to attract seasonal workers. Tobacco planting has declined due to the recently announced Federal tobacco quota cuts of 45 percent, the largest drop in the tobacco quota in a decade. Banking and Finance Commercial lending activity in the District is described as strong.