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Farm gate newsletter for December 14, 2025

News and analysis

LATEST MARKET PRICES

December 15, 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 183 188 174 135 188 133
  SI 182 184 171 132 184 130
BEEF (c/kg)          
P2 Steer NI 888 910 860 673 915 663
(270-295kg) SI 889 900 838 640 905 630
               
M2 Bull NI 893 870 820 670 893 660
(296-320kg) SI 820 805 710 620 820 613
VENISON ($/hd) gross          
AP Stag 60kg NI 1050 1050 1010 940 1050 920
  SI 1045 1045 995 920 1045 905
               
DAIRY (US$/tonne)          
  Butter GDT 5,169 6,371 6,969 6,680 7,992 5,169
  SMP GDT 2,485 2,540 2,604 2,805 2,895 2,485
  WMP GDT 3,243 3,460 3,803 3,922 4,374 3,243
  Cheddar GDT 4,639 4,449 4,709 4,689 5,519 4,328
               
  Fonterra milk price   2024/25 payout $10.16* 2025/26 payout $9.50*
  Fonterra dividend   2024/25 final $0.57 2025/26 estm $0.55-$0.65
      NZX FSF - $8.25
    * before retentions      

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