The Farmers Market prices are usually pretty high too, but occasionally you can find bargains on seasonal items.
I love farmers markets, but you have to be discriminating. Some produce, like late season hard squash tend to be bargains. Others like local honey, not so much. So no they are not reliably cut rate prices, but then again, you get really good fresh locally produced goods that have been ripened on the vine, not in a warehouse somewhere between here and california.