The outlook from the International Farm Comparison Network (IFCN) a year ago accurately predicted world milk prices would recover, as evidenced by the 63% milk price recovery since May 2016. The May 2017 estimate of the IFCN world milk price indicator at US$35.8 (€32.1) per 100kg energy-corrected milk (ECM, to 4% fat, 3.3% protein) is near the long-term average since 2007 of US$38 (€34) per 100kg ECM.
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