Platts proposes to launch a Spanish Pork Feed Cost Indicator, effective Nov. 2

Platts, part of S&P Global Energy, proposes to launch a weekly Spanish Pork Feed Cost Indicator, effective Nov. 2, 2026.

The proposed indicator is a response to requests from Spain's feed and protein producers for greater transparency around profitability in a sector where feed typically represents 60-70% of the producers' costs.

The following Platts assessments and respective weightings would be used:

Feed basket

• 30% - Soybean Meal EXW Tarragona (SMESE00);
• 70% - Corn EXW Tarragona (CESEU00);

Pork Cuts basket

• 15% - EU Pork Marker (EUPML00) - Frozen pork belly, boneless and skinless, FCA Barcelona
• 25% - EU Pork Marker - Pork loin, Boneless, skinless, IVP, fresh , FCA Barcelona
• 20% - EU Pork Marker - Pork shoulder, 4D boneless, skinless, IVP, fresh, FCA Barcelona
• 40% - EU Pork Marker - Pork leg, 4D boneless, skinless, IVP, fresh , FCA Barcelona

The price assessments for pork loin, shoulder and leg are being launched concomitantly, and were proposed on a subscriber note, Sept. 10, available here .

The calculated indicator would be as follows:

Spanish Pork Feed Cost Indicator (%) = ( [(Corn × 70%) + (Soybean Meal × 30%)] / [(Belly×15%)+(Loin×25%)+(Shoulder×20%)+(Leg × 40%)] ) * 100%

The indicator would therefore provide an approximation of the price of feed per ton relative to the price of pork per ton, and it would be published as a percentage, with a rising percentage representing that feed prices account for a higher share of the price of pork.

The calculation would reflect the relationship between assessed feed and pork prices at the time of publication, at 16:30 London timestamp, weekly every Thursday, and follow the Platts London publishing schedule. The pork belly (daily published) used for the indication would also be the Thursday daily publication.

Please send feedback, questions, or comments on the proposal until Oct. 2 to Platts_AgricultureandFood@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.