What major economic challenge did farmers face during the Gilded Age?

During the Gilded Age, many farmers faced significant economic challenges, one of which was the overproduction of crops. This overproduction led to a surplus in the market, which subsequently caused crop prices to plummet. When farmers produced more than the market could absorb, it resulted in lower income for the growers, making it difficult for them to cover their costs.

The agricultural landscape during this time was characterized by increased mechanization and expansion into new fertile lands, which allowed for higher yields. However, this efficiency came with the downside of flooding the market with products, driving down prices further. As a consequence, many farmers found themselves in a cycle of debt and financial struggle as they continued to produce more in hopes of recovering losses, often leading to bankruptcy.

In contrast, factors such as high wages for labor, low shipping costs, and access to international markets did not place the same burdens on farmers. While these elements could influence farm economics, they were not the primary challenges farmers faced during this period.