Swings and roundabouts for the dairy sector - with prices set to weaken

Research by Rabobank suggests overall global production peaked last quarter, and this quarter won't be far behind.

EU and UK are seeing their strongest growth since 2017, and US milk output has increased for five consecutive months.

Lincoln University Adjunct Professor Jacqueline Rowarth says dairy farmers aren't feeling too glum, coming off good margins.

She says they feel good when people want their product - and that joy's clearly spreading to other countries.