We have come in for criticism recently for talking up dairy markets. Our aim is to use the available global barometers to reflect the market sentiment so farmers and board members can make informed decisions.

There is no doubt that individual dairy product prices are lower than 2017. However, as Jack Kennedy reports, the New Zealand milk supply trend line has been downward since peaking in 2014/15. Positive GDT signals and the fact that the Ornua Index held up this week should help dairy farmers representing other farmers at least maintain January and February milk prices, which are being set over coming weeks.