Module 2 knowledge check

Which of the following factors influence the demand and price received for Australian wool?

Position of break in the middle (POBM)

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AWTA certification suffix descriptor type

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A sudden rise in the Australia dollar

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Consumer preferences

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All of the above

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What are three key benefits of calculating the costs of production (COP) for a wool–growing enterprise?

To provide a benchmark to measure the performance of a wool enterprise year on year

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To determine how much profit will be available to invest in off-farm assets

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To enable a comparison of the efficiency of one woolgrowing enterprise with other woolgrowing enterprises

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To identify any opportunities for improvement and where an enterprise is performing well

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What are three benefits of utilising the Australian Wool Exchange (AWEX) Code of Practice for wool classers when managing and supervising shearing, clip preparation and classing activities?

To better meet the needs of wool processors and maximise returns

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Not having to actively manage the shearing and wool handling team during shearing

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Present a product free of contamination

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Prepare uniform, consistent, reliable, predictable, low risk lines of wool

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What does the term ‘credentialled wool product’ typically describe?

A wool product that has been subjected to a quality assurance process and is guaranteed free from faults

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A wool product grown from fibre produced in an environmentally sustainable manner that recognises animal welfare, human rights and social justice standards

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A wool product that has been produced in a supply chain where each stage of processing is accredited to a national standard

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A wool product that has been sold through an accredited wool broker

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A contract made before shearing to deliver wool to an agreed specification and an agreed price schedule, where payment is made against the actual test results, describes which of the following wool selling methods?

Open-cry auction

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Forward sales

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Grower marketing group

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Wool pool

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Module 2: Market focused wool production

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