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Farm gate newsletter for May 24, 2026

News and analysis

LATEST MARKET PRICES

May 25, 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 181 175 186 148 188 154
  SI 182 175 183 146 184 151
BEEF (c/kg)          
P2 Steer NI 885 873 918 740 923 770
(270-295kg) SI 880 861 899 710 905 723
               
M2 Bull NI 890 878 918 743 923 753
(296-320kg) SI 830 809 828 650 843 653
VENISON ($/hd) gross          
AP Stag 60kg NI 1090 1070 1050 930 1090 940
  SI 1085 1060 1045 910 1085 915
               
DAIRY (US$/tonne)          
  Butter GDT 5,674 5,702 6,347 7,821 6,895 5,012
  SMP GDT 3,552 3,448 2,973 2,817 3,552 2,424
  WMP GDT 3,772 3,666 3,706 4,332 4,354 3,143
  Cheddar GDT 4,560 4,798 4,736 5,007 5,007 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 - $6.95

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