ASB's Rural Economist Nathan Penny took a look back at the financial year for 2017 on The Country today.

The exchange rate and interest rates have gone nowhere says Penny and he's not "expecting too much action until we get closer to 2019."

One of the highlights for 2017 was lamb prices which really took off after a quiet start to the year says Penny. In fact things have been looking good across most sectors with the exception of strong wool.

Fonterra's forecast dairy payout is currently sitting at $6.40 for the milk price but as always Nathan "Pollyanna" Penny is looking on the positive side and predicting $6.50 for the 2017/18 season.

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Finally Nathan gives his advice on where to invest your money in 2018.

Listen below: