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Farm gate newsletter for November 9, 2025

News and analysis

LATEST MARKET PRICES

November 10, 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 188 184 167 134 188 133
  SI 184 178 165 134 184 130
BEEF (c/kg)          
P2 Steer NI 915 895 830 673 915 663
(270-295kg) SI 905 883 808 643 905 630
               
M2 Bull NI 870 845 783 645 870 660
(296-320kg) SI 803 784 693 610 803 613
VENISON ($/hd) gross          
AP Stag 60kg NI 1050 1030 1010 950 1050 920
  SI 1040 1005 995 925 1040 900
               
DAIRY (US$/tonne)          
  Butter GDT 6,371 6,712 7,144 6,990 7,992 6,371
  SMP GDT 2,559 2,599 2,805 2,850 2,915 2,530
  WMP GDT 3,503 3,696 4,012 3,713 4,374 3,503
  Cheddar GDT 4,449 4,858 4,575 4,973 5,519 4,449
               
  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 - $8.27
    * before retentions      

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