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 lagged
averages of actual market prices (e.g., an average of 2002-2006
market prices is used to calculate 2008 normalized prices). State-level
normalized prices for 2008 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 2004-2006.
Data Files
| Normalized Prices, 2008 |
 |
Table 1—National-level
normalized price estimates for commodities for 2003-2008. |
|
Table 2—National-level
normalized indices of market-clearing prices received and paid
by farmers, 2003-2008. |
|
Table 3—2008 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, 2008. |
Updates
The next update of the normalized prices series is expected to
contain estimates for 2009. These estimates should appear in September
2009 as an update to this data product.
|
