Originally called The Gums or Government Gums,[5] Farina was settled in 1878 by optimistic farmers hoping that rain follows the plough.[6] The town was the railhead for a time until 1884 before the railway was extended to Marree. During the wet years of the 1880s, plans were laid out for a town with 432 ¼-acre blocks. It was believed that it would be good for growing wheat and barley, however normal rainfall is nowhere near enough to grow these crops. Several silver and copper mines were dug in the surrounding area.
Farina grew to reach a peak population of approximately 600 in the late 1800s. In its heyday, the town had two hotels (the Transcontinental and the Exchange) and an underground bakery, a bank, two breweries, a general store, an Anglican church, five blacksmiths, a school and a brothel. In 1909, 1,143 kilograms (2,520 lb) iron meteorite was discovered north-east of the town.