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The Pentagon and Lockheed Martin should reach agreement “in the summer timeframe” on a price for Lot 8 low-rate initial production of F-35 strike fighters, said Lorraine Martin, the company’s F-35 program manager, on Monday. She also suggested the deal could be announced as soon as the Farnborough Air Show, which takes place July 14-20 outside of London. At the company’s June 9 media day in Arlington, Va., Martin said “we do expect each LRIP lot will cost less” than the one before it. Lots 6 and 7, which the parties negotiated last year, established prices four percent lower, respectively, than the preceding lots. Asked about prospects for a Farnborough announcement, Martin said, “I like to get things behind me … as quickly as possible.”