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Farm gate newsletter for January 11, 2026

News and analysis

LATEST MARKET PRICES

January 12, 2026 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 186 183 184 133 188 133
  SI 184 182 178 130 184 132
BEEF (c/kg)          
P2 Steer NI 898 888 895 663 915 678
(270-295kg) SI 896 889 883 633 905 640
               
M2 Bull NI 900 885 845 660 900 680
(296-320kg) SI 830 820 784 613 830 623
VENISON ($/hd) gross          
AP Stag 60kg NI 1050 1050 1030 920 1050 920
  SI 1045 1045 1005 905 1045 905
               
DAIRY (US$/tonne)          
  Butter GDT 5,206 5,169 6,712 6,815 7,992 5,012
  SMP GDT 2,564 2,485 2,599 2,682 2,895 2,424
  WMP GDT 3,407 3,243 3,696 3,804 4,374 3,143
  Cheddar GDT 4,665 4,639 4,858 4,728 5,519 4,328
               
  Fonterra milk price   2024/25 payout $10.16 2025/26 payout $9.00
  Fonterra dividend   2024/25 final $0.57 2025/26 estm $0.55-$0.65
      NZX FSF - $8.17

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