MLA members are automatically entitled to one vote at the AGM, however you have the opportunity to increase your voting strength and secure your full voting entitlement by completing and returning the Levies Notice each year.
The Levies Notice is posted to all members in July each year. The Levies Notice is the way members inform MLA about the amount of livestock transaction levies you have paid in the last financial year. This information is used as the basis for determining your full voting entitlements. To ensure you receive your full voting entitlements each year you must complete and return your personalised Levies Notice to MLA by the deadline stated on the form.
Each year in October the formal AGM pack is posted to all members. The pack contains the formal AGM papers, including a proxy form. This proxy form will indicate the resolutions to be voted on at the AGM and the number of votes you have.
For more information about the AGM, the Levies Notice and the AGM pack see Frequently Asked Questions For more information about voting rights and livestock transaction levies see Your Voting Rights
Presentations:
Read the 2008 presentation by Chairman, Don Heatley (PDF, 48KB)
Read the 2008 presentation by Managing Director, David Palmer (PDF, 67KB )
View the 2008 powerpoint presentation by Managing Director, David Palmer (PPT, 4MB)
2008 AGM questions
Following is MLA’s response to some of the key questions raised at this year’s AGM:
Why is MLA increasing the cap amount for directors fees from $500 000 to $750 000?
The original cap was put in place in 2000 and subsequent increases in directors’ fees were put in place in 2002 and 2004. However this has meant that the total amount payable to directors under the cap has been reached. To ensure that directors are compensated for their commitment to the company, and in return MLA continues to attract high calibre directors to the board, the proposal was put forward to increase the total cap amount to $750 000. The original proposal if the motion was passed was for an increase of 4.3% from 1 January 2009. However in deference to the current economic climate this has been postponed for 6 months and will be reviewed by the MLA board in mid-2009. Any change made at that time will be communicated to members.
What input did MLA have in to the ACCC inquiry on the power of supermarkets?
MLA was referenced 10 times in the report (including graphs and tables) as a provider of information for analysis by the ACCC. This is consistent with MLA’s role of providing services and factual information rather than directly participating in lobbying or policy issues. MLA also made a direct submission to a red meat specific enquiry that it conducted in 2007. At the time the ACCC did not identify anything fundamentally wrong with the grocery supply chain, a finding repeated in its broader enquiry this year. Prices at the farm gate and wholesale levels are strongly influenced by international prices. The primary determinants of farm gate prices appear to be international prices and domestic supply and demand. MLA’s role is to attempt to create greater overall consumer demand for red meat which will then flow through the supply chain according to prevailing supply and demand conditions.
Why do Australian producers receive less for the cattle comparable to other producers such as those from the EU or USA?
Making direct comparisons based purely on the eventual price received for livestock are difficult and often misleading as they do not take into account the multitude of other factors affecting profitability such as comparable production cost structures, different product offerings and different transport to market costs. For example Australia and the US are vastly different in these areas as the US is largely a grainfed, locally slaughtered and consumed system while Australia is more reliant on grassfed production systems and must export its product to over 100 countries globally.
The importance of focusing on cost of production, and not solely on prices received, is critical to understanding the drivers of profit within your business. For example, a look at prices received internationally, comparing Australia to other nations such as Ireland, would suggest that Irish producers were more profitable than Australian producers. It is only when you look at the input costs of these enterprises that you see that in fact the opposite is true – the nett position, in this case for an Irish Farmer, is worse than the corresponding Australian example. (See MD presentation above for illustration)
Why does MLA’s cost-of-production calculator not take into account the cost of finance or return on assets?
Cost of production benchmarks are being promoted as a useful tool within the industry to provide a quick indication of potential scope for the improvement of their enterprise. It excludes the cost of financing and capital costs in order to focus on tactical management decisions within a defined enterprise type. We do not advocate it as the only measure of business performance, but as a first step towards a full analysis of the performance of an individual business.
2008 AGM Voting results
View the media release MLA members pass all AGM resolutions for results of voting on resolutions at this year’s AGM.