Acronyms
ABSF: Australian Beef Sustainability Framework
A¢/kg FAS: Australian cents per kilogram free alongside ship
AFRC: Audit, Finance and Risk Committee
AI: Artificial Intelligence
AIP: Annual Investment Plan
AMIC: Australian Meat Industry Council
AMPC: Australian Meat Processor Corporation
BSE: Bovine spongiform encephalopathy (also known as 'mad cow disease'). This is a slow progressing degenerative and fatal disease affecting the central nervous system of adult cattle.
¢/kg: Cents per kilogram. Units which cattle are sold in at a physical prime market.
C&F: Cost and freight – refers to the quoted price for the goods, including freight to the delivery point, but not insurance. Also written as CandF.
CALM: Computer Aided Livestock Marketing (the previous name for AuctionsPlus).
CIF: Cost, Insurance, Freight – the quoted price for the goods including freight and insurance costs delivered to final destination.
CL: Chemical lean.
CN30: Carbon Neutral 2030
CRM: customer relationship management
CT: computed tomography
cwe: Carcase weight equivalent
cwt: Carcase weight
dcw: Dressed carcase weight, also called carcase weight
DEXA: dual-energy X-ray absorptiometry
DPO: Digital Product Officer
dwt: Dressed weight
ERP: enterprise resource planning
ESTLI: Eastern States Trade Lamb Indicator
EU: The European Union – an international organisation of European nations formed after World War Two to reduce trade barriers and increase co-operation among its members.
EYCI: Eastern Young Cattle Indicator (EYCI), which is used as a general cattle market benchmark.
FAS: Free alongside ship – refers to export price quotes where the seller is obliged to pay warehouse services, packing, inland freight and port charges, but not placement of goods onto the ship. The buyer is obliged to pay overseas freight, charges in foreign port, customs duties, quarantine and delivery to final destination. (See also 'FOB').
FMD: foot-and-mouth disease – a highly contagious disease that does not affect humans. FMD causes severe blistering in the mouth and inflammation of the hoof of the infected animal.
FOB: Free on board – the quoted price for the goods delivered to the ship for shipment. (See also 'FAS').
GHG: greenhouse gas
GPS: Global Positioning System
GR: girth rib
Good till cancelled (GTC) order: An order that is held by the broker on behalf of the client until it is filled or cancelled.
HGP: Hormone growth promotant, which is used to stimulate growth and improve feed conversion in cattle above what they would normally be able to do.
HSCW: Hot standard carcase weight – used to describe the weight of an animal, particularly when the animal is sold over the hooks.
IMF: intramuscular fat
IoT: Internet of Things
IP: intellectual property
ISC: Integrity Systems Company
IT: information technology
LEP: live export program
LERDAC: Livestock Export Research & Development Advisory Committee
LMO: Livestock market officer
LMY: lean meat yield
LPA: Livestock Production Assurance
LSD: lumpy skin disease
lwt: Liveweight – the weight of a live animal. Generally refers to price quotes (eg ¢/kg lwt) where the price for the animal is quoted per kilogram for the live animal.
MDC: MLA Donor Company
ML: machine learning
MLA: Meat & Livestock Australia
MSA: Meat Standards Australia – a meat grading system designed in Australia. Used to describe the guaranteed eating quality of Australian beef.
NB2: Northern Breeding Business
NFAS: National Feedlot Accreditation Scheme
NLGC: National Livestock Genetics Consortium
NLIS: National Livestock Identification System
NLRS: National Livestock Reporting Service
NRM: natural resource management
NSM: Non-station mated – refers to when a cow or heifer has not been intentionally exposed to a bull. Mainly used in store market reports.
OTH: Over the hooks – refers to the marketing of cattle/sheep/lambs directly from the farm to an abattoir where a producer is paid for the value of the carcase based on a sliding grid. The skin is also evaluated for length and quality and is purchased by the processor. The seller generally pays for the animal's transport from the farm to the abattoir. The grazier generally gets paid within a 7 day to 14 period.
OM: objective measurement
Over-The-Counter (OTC): A product tailored to meet the individual users’ requirements.
P8 site: An abbreviation for 'Position 8' for fat assessment on cattle. The P8 site is on the rump, forward of the tail head above the short ribs.
PGS: Profitable Grazing Systems
PIB: peak industry body
PIEFA: Primary Industries Education Foundation Australia
PTIC: Pregnancy Tested in Calf – used to describe cows at a store or prime market.
PTNIC: Pregnancy tested not in calf.
RD&A: research, development and adoption
RD&E: research, development and extension
RDC: Research and Development Corporation
RMAC: Red Meat Advisory Council
RPP: Rural Professionals Program
SEO: search engine optimisation
SSF: Sheep Sustainability Framework
sw: Shipped weight – refers to the weight of a shipment of beef.
USC: United States cents.
USD: United States dollars.
US¢/lb CIF: United States cents per pound Cost, Insurance and Freight.
