The NYCI launched at Beef on Monday. Here's how it was performing at 5pm on Monday.
An article by Natasha Lobban
A new cattle market indicator that offers a complete view of the national restocker market, including online sales through AuctionsPlus, was launched at Beef 2024 on Monday by Meat & Livestock Australia (MLA).
The National Young Cattle Indicator, or NYCI, is a new national restocker indicator covering multiple sales channels across the country, and it is expected to be used as the most accurate national analysis tool of the restocker market.
The indicator will cover yearling, vealer and weaner cattle over 200kg liveweight which are bought and sold as restocker animals, meaning that they will return to a farm to replace livestock, be grown out, or join the breeding herd.
The indicator will cover physical and online markets, including sales on AuctionsPlus.
“AuctionsPlus is more than a marketplace and our status as the largest restocking platform in the country has made it the go to destination for producers to get real-time data,” AuctionsPlus General Manager-Network Paul Holm said.
“By providing data the new NYCI, AuctionsPlus is continuing to play an important role in connecting ag and providing producers with critical information to make informed decisions.”
MLA’s Market Information Manager Stephen Bignell said the industry had used the popular EYCI as a “catch-all” of the cattle market, despite the indicator shifting in recent years.
“The opportunity in developing the NYCI is that MLA will have an indicator fit for use for each of the main buyers, processors, feedlots and producers,” he said.
“As processor demands have shifted to larger carcase weights, today most EYCI cattle are purchased by restockers or feeders.
“As the EYCI is a reactive indicator, industry often uses it as a catch all for the market and producer confidence. It was identified that industry was in need of a more accurate national restocker indicator, so we’ve developed the NYCI.”
Similarly to other indicators, the NYCI will feature:
NYCI price and head count displayed above a 12-month graph.
Change over day, week, month and year.
Saleyard contributors’ section will display saleyard and online breakdown; head, avg value, and % contribution.
A heifer/steer/mixed breakdown graph shown at bottom of the graphic.
Ability to filter the information by state and report date.
