Seismic global events have left the milk market on shaky ground

Rabobank's latest Dairy Seasonal Outlook forecasts a farmgate milk price of nine-dollars per kilogram of milk solids, for the 2022 to 2023 dairy season.

But it says farmers need to control costs and manage their risks - thanks to an uncertain outlook.

Senior agricultural analyst Emma Higgins says ongoing lockdowns in China - where about 45 percent of our dairy exports go - have weakened demand.

Higgins says the war in Ukraine is also putting pressure on input costs.

She says there's been a broad-based upswing in commodity prices affecting fertiliser, fuel and feed.