West Otago Farmer Luke Kane Wins Rabobank 2026 Prize
West Otago dairy farmer Luke Kane has been awarded the 2026 Rabobank Dr John Morris Business Development Prize.
By February, the North Island bull indicator had reached $9.65/kg CWT, an all-time high, and premiums on top, meaning some producers may be getting closer to $10/kg.
Rabobank animal proteins analyst Jen Corkran noted that farmgate beef pricing had held at record levels across the first two months of 2026, supported by strong offshore demand.
She says December 2025 saw the average export value for New Zealand beef reach $12.42/kg, another record, reflecting both a supportive currency at the time, and broad global demand."
ANZ agri economist Matt Dilly says beef prices continue to rise both at the farmgate and in-market.
With strong demand overseas and great pasture conditions, prices should easily hold through the end of 2025/26 and likely longer, says Dilly.
Corkran agrees that the NZ summer has so far delivered very favourable grass-growing conditions across the country.
Read More:
- Time for a viable dairy-beef system - RaboResearch
- Beef prices climb as supply contracts in key markets
- Global beef supply to shrink
"This has enabled farmers to hold stock longer and add additional weight. While positive for productivity, this does contribute to localised procurement challenges at times, even as export demand holds firm," she says.
Corkran says New Zealand beef export volumes are expected to increase by 3-4% in 2026, in line with higher production.
