You will have to apply for the either sex tag, BUT you don't get any preference for that tag being a youth. The state offers 15% of the cow elk licenses for each unit during regular rifle seasons for youth. So if you would like to get your first elk and you would be happy with a cow, then apply for the cow elk tag, and your chances of getting that tag would be good in any unit.
Your unfilled tag, would also be good after the 4th regular season as well. So if your season ended and you didn't get your elk, the state offers youth the opportunity to hunt in any antlerless only elk season that is still open.
This is all explained on page 2 of the 2007 Big Game Brochure, incase I confused the heck out of ya!