I was using Nestle's Good Start, and they have a formula for the first year, and a different formula for the second year. After that, I began mixing the second-year formula with whole (cow's) milk, and then moved him to plain whole milk. The pediatrician said he would be fine on skim milk after his third birthday. Is "children milk" just milk, and follow-on milk a kind of formula?
If your child falls into the age range listed on the label, the milk should be fine for him. I assume he is on a lot of food by now, anyway, and is getting most of his nutrition there. I believe that one of the bigger advantages of staying with formula (in age-adjusted formulations) is the iron in the formula, but can't remember for sure.
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