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 2008-12 market prices is used to calculate 2014 normalized prices). State-level normalized prices for 2014 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 2010-12.
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Normalized Prices, 2014 Back to top
Table 1—National-level normalized price estimates for commodities for 2009-14 Download as Excel
Table 2—National-level normalized indices of market-clearing prices received and paid by farmers, 2009-14 Download as Excel
Table 3—2014 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 Download as Excel
Table 4—State-level normalized price estimates for commodities, 2014 Download as Excel