Overview
The Economic Research Service (ERS) annually calculates "normalized prices," which smooth out the effects of shortrun seasonal or cyclical variation, for key agricultural inputs and outputs. These normalized prices are used by the U.S. Army Corps of Engineers and other Federal agencies to evaluate the benefits of projects affecting agriculture. Since 1993, ERS has calculated these prices based on 5-year moving averages of actual market prices (e.g., using 2001-2005 market prices to calculate 2007 normalized prices). State-level normalized prices for 2007 were calculated by multiplying the national-level normalized prices by the average ratios of the State-level market prices to the national market prices for 2003-2005.
Media and Naming Convention
The four table files in the normalized prices database are provided
in .xls spreadsheet format.
Data Files
| Normalized Prices, 2007 |
 |
Table 1—National-level
normalized price estimates for commodities for 2002-2007. |
|
Table 2—National-level
normalized indices of market-clearing prices received and paid
by farmers, 2002-2007. |
|
Table 3—2007 indices using
three base periods (1990-92=100, 1977=100, and 1967=100), so
that the data in Table 2 may be converted to a different base
year if needed. |
|
Table 4—State-level normalized
price estimates for commodities, 2007. |
Updates
The next update of the Normalized Prices series is expected to
contain estimates for 2008. These estimates should appear in September
2008 as an update to this product.
|
