Don't be overly surprised by how cheap Idaho's hops are, there is no arbitrage present here. Idaho tends to make the cheaper and lower grade varieties that have seen falling prices. The real increase in hops prices have been the high demand specialty varieties. Data comes from USADA.

Below are the prices per pound:
Idaho
2010 3.89
2011 2.93
2012 2.69

Oregon
2010 3.96
2011 3.79
2012 3.99
 
Washington
2010 3.11
2011 3.06
2012 3.19

US Avg
 2010 3.28
2011 3.14
2012 3.27
 


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