What happened in the agricultural market around 1880 that affected farmers?

In the agricultural market around 1880, many farmers experienced a significant impact due to overproduction of crops, which led to a decline in prices. As farmers increased their production to meet growing consumer demands, they inadvertently flooded the market with surplus crops. The influx of supply outpaced the market's ability to absorb these goods, resulting in lower prices for agricultural products. This decline in prices ultimately affected farmers' incomes and financial stability, leading to widespread discontent among farming communities.

While other factors like new farming technology and high demand for certain crops existed during this time, the critical issue was the imbalance created by overproduction. Many farmers may have initially benefited from advancements and favorable conditions, but the subsequent surplus caused a market downturn that profoundly affected their livelihoods. Understanding this phenomenon helps clarify the economic challenges faced by farmers during this era, which would be key to the discussions surrounding agricultural policies and farmer movements in the years that followed.