You can go and load them down yourself. What I found was that NZ stats have stated in their text on the June figures it is the following item which contains infant formula. There is also a milk powder item which is the largest item in dairy and fell substantially but it doesn't contain IF. All the fresh milk and UTH milk categories also expanded.
So yes its very possible Macquarie looked at the wrong items. I confirmed it was the right item by the NZ stats text which said (contains infant formula)
Latest NZ Stats for category which includes infant formula, page-8
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