Based on the weighted average of 3 IFCN world milk price indicators: 1. SMP & butter (~32%), 2. Cheese & whey (~51%), 3. WMP (~17%), based on quarterly updated shares of the related commodities traded on the world market.
The IFCN World Feed Price Indicator represents the world market price level for feed. It is based on the prices for soybean meal and corn, originating from their shares in a simplified compound feed ration.