In the latest of our series exploring volatility, Joel Durkin examines the price roller coaster that is the dairy industry. The dairy sector is in the midst of a significant, yet slow-moving, shift to a globally traded commodity market. In past decades the industry was heavily managed, with various marketing boards and EU buying strategies ironing out bumps and dips in prices back to the farmgate. There was always a guaranteed market for milk, but the industry was not fully exposed to changes in demand on a global scale. Read more.