Carlene Dowie

Global dairy prices stabilised at auction on Tuesday night but pundits warn the market is still dogged by uncertainty.

Executives from two of Australia's biggest dairy processors have warned that the COVID-19 pandemic is disrupting markets in ways not seen before.

Dairy processors must include a statement justifying the minimum prices offered in new milk supply agreements required under the new mandatory Dairy Code of Conduct.

Global dairy prices fell on Tuesday night as concerns about the impact of the COVID-19 crisis hit.

As the coronavirus crisis deepened, the Australian dairy industry ramped up its response to manage emerging threats on numerous fronts.

Australian milk production bounced in February with production up 8.1 per cent on the previous year.

Dairy analysts are warning the COVID-19 crisis will put pressure on global dairy prices well into 2021 and will hit opening prices in Australia.

Difficult conversations are a critical for industries and people to grow, the Gardiner Dairy Foundation Australian Dairy Leaders Luncheon earlier this year was told.

Dairy farms could boost efficiency and returns by taking a lean management approach, the Australian Dairy Conference earlier this year was told.

The quality of on-farm decision making is one of the five big challenges facing the dairy industry, the Australian Dairy Conference earlier this year was told.