NB_200_23_1 - NB 200-23-1 ECN – Normalized Prices for Fiscal Year 2023 Water Resources Planning and Evaluation
NB 200-23-1 ECN – Normalized Prices for Fiscal Year 2023 Water Resources Planning and Evaluation
National
Bulletin:
200-23-1
Date:
November 1, 2022
Subject:
ECN – Normalized Prices for Fiscal Year 2023 Water Resources Planning and Evaluation
Purpose. This national bulletin announces the current normalized prices for agricultural commodities for fiscal year (FY) 2023.
Expiration Date. October 1, 2023
Background. Since 1993, the Economic Research Service has estimated the national normalized prices for agricultural commodities based on 5-year moving averages of actual market prices (e.g., 2016 to 2020 for 2021 normalized prices). The state-level normalized prices for report year 2022 for use during FY 2023 were calculated by multiplying the national normalized prices by the average ratios of the state-level market prices to the national prices for 2018 to 2020.
Normalized prices smooth out the effects of short-run seasonal or cyclical variation for key agricultural inputs and outputs.