1966-1975: A Decade of Growth, Technology and New Markets
A Look Back as ProAg Marks 100 Years, For Generations
By 1966, American farmers and ranchers were producing more than ever before. Larger equipment, improved hybrid seed technology and expanded irrigation were helping farmers increase production across the country. At the same time, growing export demand and changing farm policies were creating new opportunities and new challenges.
1966-1975 was a decade of growth. Farms continued to increase in size while the number of farms declined. New technology improved efficiency, and foreign markets became increasingly important to American agriculture. The changes taking place during these years helped shape the modern farming industry we know today.
Crop Insurance and ProAg History, 1966-1975
Federal crop insurance remained relatively limited during this period. Participation continued to lag, and many producers relied on private crop hail insurance as their primary form of risk protection. While the federal program remained in place, significant expansion and growth were still years away.
For the Latham family business at the time, however, this decade marked an important transition.
In 1970, Jess Benjamin “Benny” Latham III began his career in the farming and cattle business. Two years later, he founded the National Livestock Insurance Agency. In 1973, he joined his father in the crop insurance business founded by his grandfather, Jess Latham Sr., in 1926.
These experiences in farming, livestock and crop insurance would help shape the future of the family business, now known as ProAg, in the decades ahead.
What Everyday Life Cost – 1966 Compared to 1975
The economy changed rapidly during this decade, particularly during the early 1970s when inflation began pushing prices higher.
| Purchased Item | 1966 Price | 1966 Price (Today’s $) | 1975 Price | 1975 Price (Today’s $) |
| Gasoline (per gallon) | ~$0.32 | ~$3.10 | ~$0.53 | ~$3.10 |
| Milk (per gallon) | ~$1.01 | ~$9.80 | ~$1.57 | ~$9.10 |
| Eggs (per dozen) | ~$0.60 | ~$5.80 | ~$0.77 | ~$4.50 |
| Average New Car Price | ~$2,650 | ~$25,700 | ~$4,380 | ~$25,500 |
| Median Home Value | ~$22,925 | ~$222,000 | ~$35,300 | ~$205,000 |
As costs continued to rise, managing expenses became an increasingly important part of farm profitability.
Presidents and National Leadership During the Decade
Lyndon Johnson meets with Presidential candidate Richard Nixon at the White House, July 26, 1968
Three presidents led the country through a period of social change, geopolitical tension and economic growth.
- Lyndon B. Johnson (1963–1969) expanded domestic programs through the Great Society while overseeing agricultural policies focused on farm income and rural development.
- Richard Nixon (1969–1974) served during a period of expanding agricultural exports and significant changes in global grain markets.
- Gerald Ford (1974–1977) entered office as inflation and economic uncertainty became growing concerns for both consumers and producers.
Defining American Events, 1966–1975
This decade brought change across the United States and around the world.
- The Vietnam War continued through much of the period
- Apollo 11 landed on the moon in 1969 with Neil Armstrong being the first person to walk on the moon
- On May 1, 1971, Amtrak assumed responsibility for most long-distance passenger rail service in the United States, marking a major shift in the nation’s transportation system
- The Civil Rights movement continued to influence American society and public policy
- The Arab Oil Embargo of 1973 triggered fuel shortages and rising energy costs across the country, eventually leading to the creation of Corporate Average Fuel Economy (CAFE) standards aimed at improving vehicle fuel efficiency
- The Watergate scandal led to President Nixon’s resignation in 1974
- U.S. agricultural exports expanded significantly as overseas demand for grain increased
Federal agricultural policy also also continued to evolve.
- The Agricultural Act of 1970 introduced new acreage set-aside provisions and payment limitations
- The Farm Credit Act of 1971 expanded the Farm Credit System’s lending authority
- The Rural Development Act of 1972 increased support for economic development in rural communities
- The Agriculture and Consumer Protection Act of 1973 established target prices and deficiency payments for major commodities
Hear the Spotify Playlist for 1966-1975
Agriculture Moves Toward New Markets
John Deere 7520, 1973, OH – Credit: Machinery Pete
American agriculture continued to modernize throughout the late 1960s and early 1970s.
Hybrid seed technology became standard across much of corn production. Fertilizer use increased, herbicides became more common, and irrigation continued to expand in many growing regions. These tools and technologies helped producers increase yields and manage larger operations.
Export markets also became more important. Grain sales to foreign buyers grew during the early 1970s, creating new demand for American agricultural products and driving up commodity prices.
Not every development was positive. The Southern Corn Leaf Blight outbreak in 1970 exposed vulnerabilities in widely used hybrid corn varieties and reminded producers that new technology carried risks as well as benefits.
By the middle of the decade, American agriculture looked very different from what it had been ten years earlier. Farms were larger, production was higher, and markets extended far beyond local communities. Technology, exports and changing farm policy had become central parts of the business of farming.
1956-1965: The Decade of Scale, Efficiency and Change