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Farm gate newsletter for May 17, 2026

News and analysis

LATEST MARKET PRICES

May 18, 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 179 175 188 146 188 152
  SI 177 175 184 142 184 147
BEEF (c/kg)          
P2 Steer NI 885 873 923 730 923 760
(270-295kg) SI 870 861 901 687 905 717
               
M2 Bull NI 890 878 923 738 923 743
(296-320kg) SI 819 809 830 633 843 650
VENISON ($/hd) gross          
AP Stag 60kg NI 1080 1060 1050 920 1080 930
  SI 1070 1050 1045 905 1070 910
               
DAIRY (US$/tonne)          
  Butter GDT 5,595 5,950 6,165 7,992 6,969 5,012
  SMP GDT 3,549 3,318 2,923 2,806 3,549 2,424
  WMP GDT 3,768 3,621 3,629 4,354 4,374 3,143
  Cheddar GDT 4,611 4,766 4,772 5,519 5,519 4,328
               
  Fonterra milk price   2024/25 payout $10.16 2025/26 payout $9.70
  Fonterra dividend   2024/25 final $0.57 2025/26 estm $0.50-$0.65
      NZX FSF - $6.94

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