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Farm gate newsletter for November 2, 2025

News and analysis

LATEST MARKET PRICES

November 3, 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 186 179 165 133 186 133
  SI 183 176 163 134 183 130
BEEF (c/kg)          
P2 Steer NI 915 890 815 653 915 663
(270-295kg) SI 905 883 780 638 905 630
               
M2 Bull NI 870 845 783 640 870 645
(296-320kg) SI 800 754 663 593 800 613
VENISON ($/hd) gross          
AP Stag 60kg NI 1050 1030 990 990 1050 920
  SI 1040 1005 995 945 1040 900
               
DAIRY (US$/tonne)          
  Butter GDT 6,662 6,892 7,144 6,495 7,992 6,495
  SMP GDT 2,530 2,600 2,803 2,860 2,915 2,530
  WMP GDT 3,580 3,776 4,027 3,622 4,374 3,551
  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 - $8.11
    * before retentions      

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