Max Armstrong recalls the first FarmAid concert back in 1985, including his recollection of the “farm depression” back then. The farm financial crisis back in the mid-80s was triggered by tight economic policies that cut the value of farmland by 60%. And farm debt doubled from 1978 to 1984. One factor that helped farms survive was the availability of off-farm work, which varied by region. Markets were also hit by the Russian grain embargo.

Max Armstrong's Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Max Armstrong, veteran farm broadcaster and host of This Week in Agribusiness.

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