Federated Farmers isn't looking too seriously at reports Canterbury banks are putting receivers on stand-by for farmers.

The Ashburton Guardian quoted a source as saying receivers were being put on notice to potentially step into struggling dairy farms as the downturn continues.

But South Canterbury Dairy Chair Ryan O'Sullivan argues it's a little bit premature to say the industry's going to hell in a hand-basket when the final payout isn't for another 14 months.

"I think the dairy price commodity price has shown us that things can change quickly. In the past couple of years we've had about $2 of volatility between the opening forecasts and what we ultimately get paid."

Mr O'Sullivan said there are always farmers in difficult positions in any commodity cycle.

"If prices stay low it will be difficult, but as I say, you can't underestimate farmers resilience."

He said it's too early for farmers to get jumpy.