Farmers urged to share thoughts on whether Meat and Livestock Australia’s 23 market indicators ‘suit industry’

Meat and Livestock Australia’s 23 market indicators could be in for an overhaul when the results of a producer survey and the first indicator review since 2017 are revealed later this year. The organisation is still accepting input into the first review of its indicators as a way to make sure they “suit the needs of the industry”, with survey submissions closing on September 16. It hopes the review will make sure its pricing indicator help producers make effective decisions, by being accurate, reflecting market trends, and including sufficient volumes of transactions. The study is being carried out by MLA’s market information team and adds to consultation with key industry representative bodies, producers and stakeholders. The survey is available through the MLA website. The review comes after MLA in May launched a new independent price indicator to help the live export industry make more informed decisions and drive profitability in the northern cattle trade. The Live Export Price Indicator — the first of its kind — was developed in consultation with industry in response to the need to provide greater coverage of pricing trends to producers and participants throughout the supply chain. The LEPI represents the average sale price of male feeder cattle purchased by exporters for shipment via Darwin to Indonesia, and is released every second Tuesday for the previous fortnight. All data shown in the LEPI is provided by livestock export companies active in the feeder cattle trade to Indonesia. It is generated on the sale price of male feeder steers and bulls weighing 280–380kg liveweight. In line with established terms of the trade, the indicator price is reported on a cents-per-kilogram liveweight basis and in Australian dollars.