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Farm gate newsletter for February 2, 2026

News and analysis

LATEST MARKET PRICES

February 2, 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 188 186 187 137 188 138
  SI 184 184 184 133 184 133
BEEF (c/kg)          
P2 Steer NI 923 898 915 678 923 688
(270-295kg) SI 901 896 905 640 905 643
               
M2 Bull NI 923 900 870 680 923 710
(296-320kg) SI 830 830 803 623 843 627
VENISON ($/hd) gross          
AP Stag 60kg NI 1050 1050 1050 920 1050 920
  SI 1045 1045 1040 905 1045 905
               
DAIRY (US$/tonne)          
  Butter GDT 5,314 5,012 6,662 6,984 7,992 5,012
  SMP GDT 2,767 2,476 2,530 2,840 2,895 2,424
  WMP GDT 3,442 3,170 3,580 4,022 4,374 3,143
  Cheddar GDT 4,594 4,646 4,758 4,846 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 »