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Farm gate newsletter for September 15, 2025

News and analysis

LATEST MARKET PRICES

September 15, 2025 price range  
    this 4 weeks 3 months 1 year 52 week
    week ago ago ago high low
Processor schedule prices ...          
LAMB ($/hd) including 1kg woolly pelt    
17.5 kg YX  NI 174 168 157 127 174 128
  SI 171 166 156 127 171 130
BEEF (c/kg)          
P2 Steer NI 860 830 780 673 860 653
(270-295kg) SI 838 815 750 625 838 630
               
M2 Bull NI 820 783 763 640 820 640
(296-320kg) SI 710 703 660 577 710 583
VENISON ($/hd) gross          
AP Stag 60kg NI 1010 1010 950 990 1010 920
  SI 995 995 930 905 995 900
               
DAIRY (US$/tonne)          
  Butter GDT 6,969 7,144 7,811 6,675 7,992 6,407
  SMP GDT 2,604 2,805 2,672 2,800 2,915 2,604
  WMP GDT 3,803 4,012 4,127 3,438 4,374 3,396
  Cheddar GDT 4,709 4,575 4,759 4,324 5,519 4,324
               
  Fonterra milk price   2023/24 payout $7.83* 2024/25 forecast $10.15*
  Fonterra dividend   2023/24 final payout $0.55 2024/25 forecast $0.65-$0.75
      NZX FSF - $7.25
    * before retentions      

for more detailed price data, by individual saleyard or processor, see our comprehensive listings here ยป