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Farm gate newsletter for October 19, 2025

News and analysis

LATEST MARKET PRICES

October 20, 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 186 176 162 128 186 133
  SI 180 172 161 135 180 130
BEEF (c/kg)          
P2 Steer NI 900 880 810 658 900 653
(270-295kg) SI 888 848 763 642 888 630
               
M2 Bull NI 855 830 780 640 855 640
(296-320kg) SI 789 715 660 583 789 593
VENISON ($/hd) gross          
AP Stag 60kg NI 1040 1010 970 990 1040 920
  SI 1010 995 960 945 1010 900
               
DAIRY (US$/tonne)          
  Butter GDT 6,712 6,892 7,144 6,495 7,992 6,407
  SMP GDT 2,585 2,615 2,785 2,745 2,915 2,585
  WMP GDT 3,677 3,790 3,928 3,553 4,374 3,533
  Cheddar GDT 4,858 4,814 4,589 4,702 5,519 4,548
               
  Fonterra milk price   2024/25 payout $10.16* 2025/26 payout $10.00*
  Fonterra dividend   2024/25 final $0.57 2025/26 estm $0.55-$0.65
      NZX FSF - $8.36
    * before retentions      

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