There may not be a magic wand to fix the dairy crisis but Australia's struggling farmers and Deputy Prime Minister Barnaby Joyce want the days of $1-a-litre milk to end.
There will be a full investigation by the competition watchdog into what Mr Joyce labelled a "fiasco" of late-in-the-season cuts in the prices the major dairy producers pay farmers for their milk.
"There is no magic wand solution to this but it is not that we are doing nothing," Mr Joyce said after a meeting of industry stakeholders in Melbourne.
Mr Joyce said the Australian Competition and Consumer Commission inquiry will help prevent the situation happening again.
"The ACCC will be able to order and request information as to exactly what happened with this fiasco," he told reporters.
"We're going to make sure we get to the bottom of how this situation happened and we won't let it happen again - I'll do my very best that this sort of situation doesn't happen again."
The ACCC has already been looking at specific issues after Australia's biggest dairy producer Murray Goulburn and New Zealand-based Fonterra announced, late in the 2015/16 financial year, retrospective cuts to the price they pay dairy farmers for their milk.
Australian Dairy Farmers president David Basham said processors were prepared to sit down with farmers and talk about putting fairness into their contractual arrangements.
"Without fairness in those structures the farmers are wearing too much of the risk and we need to spread that risk across the supply chain," he told reporters.
Mr Joyce said consumers can help the industry by buying dearer milk instead of the major supermarkets' $1-a-litre offers, which did not send a proper signal about the price of labour for farmers.
"The days of $1-a-litre milk have got to finish because it just sends all the wrong messages," the agriculture minister said.
"Go into your shop - the consumers are turning off it because they just say all I'm doing when I'm buying that is buying a form of exploitation."
Murray Goulburn chairman Philip Tracy said the co-operative will co-operate fully with any investigation by any regulator.
"We don't have anything to hide," Mr Tracy told AAP.
He said Murray Goulburn would look at providing more clarity and direction on milk pricing and forecasting if possible.
"It's a very difficult situation - to drop the farmgate milk price so late in the season had a very dramatic effect on our farmers. That's why we introduced the support package to help carry them through.
"It doesn't remove all of the financial difficulty because the difficult trading conditions still exist."
Mr Joyce said the government was trying to streamline access to its support package for dairy farmers, including concessional loans.
Federal opposition agriculture spokesman Joel Fitzgibbon said the dairy symposium was nothing but a talkfest.