I am in North-east Iowa. Good equipment is still bringing good money here too. The only exception to this is hay tools. There has been a lot of hay ground switched to grain crops with the high prices. Then you add those same high grain prices into the feed cost and you have livestock farmers with not much profit to buy things.
It is the mid range equipment that is softest. The real later model new stuff will bring good because the guy will pick it up to save the money verses a new purchase. The cheap stuff is still high because the weekend/part time guys keep that market up. It is the $3000-15000 stuff that is soft. It is older than the new buyers want and still too high for most of the part time guys.