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Farm gate newsletter for September 29, 2025

News and analysis

LATEST MARKET PRICES

September 29, 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 177 171 158 128 177 128
  SI 172 169 156 131 172 130
BEEF (c/kg)          
P2 Steer NI 885 835 780 673 885 653
(270-295kg) SI 863 820 757 632 863 630
               
M2 Bull NI 835 820 763 640 835 640
(296-320kg) SI 725 710 660 583 725 583
VENISON ($/hd) gross          
AP Stag 60kg NI 1030 1010 950 990 1030 920
  SI 1005 995 930 905 1005 900
               
DAIRY (US$/tonne)          
  Butter GDT 6,892 7,144 7,890 6,546 7,992 6,407
  SMP GDT 2,615 2,702 2,704 2,785 2,915 2,604
  WMP GDT 3,797 3,992 4,006 3,544 4,374 3,438
  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 - $7.89
    * before retentions      

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