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Farm Progress America, September 30, 2022Farm Progress America, September 30, 2022

Max Armstrong looks back on what he calls the ‘farm depression’ of the 1980s and one factor that helped farmers then.

September 30, 2022

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.

Photo: Farm Progress

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