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TeachMeFinance.com - explain Basic formula price (BFP) Basic formula price (BFP) The term 'Basic formula price (BFP) ' as it applies to the area of agriculture can be defined as ' Calculated monthly by USDA, the BFP is the base price for all milk regulated by federal milk marketing orders. Currently, the BFP is based on the preceding month’s average price of Grade B milk paid by processors in Minnesota and Wisconsin, adjusted by current-month changes in the value of certain manufactured dairy products'. Previous 5 Terms: basial BASIC Basic Benefits Basic Benefits (Medigap Policy) Basic commodities Next 5 Terms: basic science basin Basin Boundary Basin Lag Basin Recharge About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.