Parallel-pump spin-wave instability in polycrystalline Ni–Al ferrite has been measured at 9.384GHz. The ground degeneracy of Co2+ ions with concentration between 0.01 and 0.025ions/f.u. added stoichiometrically, gives minimum losses and high-instability threshold values. Generalized instability theory for oblique pumping is used to reproduce the experimental butterfly curves. Results show a strong dependence of spin-wave linewidth on wave vector and crystalline anisotropy of cobalt.