The IFA says dairy farmers have grounds for optimism as they expect to see a recovery in the dairy markets in the coming months.
IFA National Dairy Committee Chairman Richard Kennedy warned that despite this optimism, recovery will take time.
He also said that greater flexibility from the banks and continued EU supports were needed to help farmers out of the current crisis.
Mr Kennedy was speaking at the Virginia Show in Co Cavan.
Up to 15,000 are attending the annual show, where the main event is the Bailey's All Ireland Dairy Cow Championship, which carries a prize fund of €8,000.
