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Farm gate newsletter for September 22, 2025

News and analysis

LATEST MARKET PRICES

September 22, 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 176 168 158 127 176 128
  SI 172 166 156 131 172 130
BEEF (c/kg)          
P2 Steer NI 880 830 780 673 880 653
(270-295kg) SI 848 815 757 632 848 630
               
M2 Bull NI 850 805 763 640 850 640
(296-320kg) SI 715 703 660 583 715 583
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 6,892 7,144 7,890 6,546 7,992 6,407
  SMP GDT 2,615 2,756 2,775 2,809 2,915 2,604
  WMP GDT 3,790 4,036 4,084 3,448 4,374 3,396
  Cheddar GDT 4,814 4,548 4,992 4,441 5,519 4,441
               
  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 - $7.27
    * before retentions      

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