TL;DR: Meat & Livestock Australia launched the National Young Cattle Indicator (NYCI) to provide detailed insights into the national restocker market, enhancing decision-making across the beef industry.
Today, Meat & Livestock Australia (MLA) introduced the National Young Cattle Indicator (NYCI) at Beef Australia, providing a comprehensive overview of the national restocker market.
An Improved Market Tool
The NYCI serves as a new, national restocker indicator that incorporates data from various sales channels across Australia. This tool aims to offer the most precise national analysis of the restocker market. Stephen Bignell, MLA’s Market Information Manager, explained that the NYCI would provide an easy-to-use interface for producers and other stakeholders. It captures data on young cattle sales, covering yearling, vealer, and weaner cattle weighing over 200 kg live weight that are bought and sold as restocker animals.
Broader Coverage
This indicator encompasses cattle sold nationwide, in contrast to the Eastern Young Cattle Indicator (EYCI) and the Western Young Cattle Indicator (WYCI), which are limited to eastern and western markets, respectively.
MLA’s Commitment to Industry
Mr. Bignell emphasised MLA’s ongoing effort to enhance market transparency by consolidating and expanding data from the EYCI and WYCI to a national scale. “MLA collects a vast amount of market information and continuously seeks methods to distribute this data in practical and beneficial formats to the industry,” he said.
Addressing Industry Needs
He noted that while the EYCI has been a popular general market indicator, it has shifted focus in recent years. With processor demands moving towards larger carcass weights, most EYCI-classified cattle are now bought by restockers or feeders. This highlighted the need for a more targeted national restocker indicator, leading to the development of the NYCI.
The NYCI is set to provide enhanced market insights by aggregating multiple sales channels, aiming to offer greater clarity and aid in decision-making for stakeholders across the beef industry.
