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Farm gate newsletter for October 26, 2025

News and analysis

LATEST MARKET PRICES

October 27, 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 186 177 165 128 186 133
  SI 181 172 162 134 181 130
BEEF (c/kg)          
P2 Steer NI 900 885 815 653 900 663
(270-295kg) SI 888 863 770 642 888 630
               
M2 Bull NI 860 835 783 640 860 645
(296-320kg) SI 789 725 660 583 789 610
VENISON ($/hd) gross          
AP Stag 60kg NI 1040 1030 990 990 1040 920
  SI 1010 1005 970 945 1010 900
               
DAIRY (US$/tonne)          
  Butter GDT 6,662 6,892 7,144 6,495 7,992 6,495
  SMP GDT 2,559 2,615 2,833 2,805 2,915 2,559
  WMP GDT 3,610 3,797 3,988 3,551 4,374 3,533
  Cheddar GDT 4,758 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 - $8.38
    * before retentions      

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