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	Industry Milestones

1980-1989: Boom & Bust (again)



1980		The minimum reserve price is increased to 365 cents/kg (clean)
		Collaboration between CSIRO (funded from research levies paid by wool producers) and AWTA Ltd results in the development sampling and measurement systems for determining Colour and Staple Length & Strength. Sale with Additional Measurement (SAM) trials, intended to introduce the industry to these new measurements are carried out.



1981		Initiated by AWTA a major trial to evaluate the commercial efficacy of the new measurements (Trial to Evaluate Additional Measurements or TEAM) commences.
		AWTA's Yennora laboratory is expanded to cope with the growing workload.



1982		Following recommendations made by the Fraser Government's Expenditure Review Committee ("Razor Gang"), headed by the Treasurer Phil Lynch, the Statutory Australian Wool Testing Authority is wound up and all its assets and associated assets of the Australian Wool Corporation transferred to a new public company, limited by guarantee, Australian Wool Testing Authority Ltd (AWTA Ltd). The final structure of the Company follows intensive lobbying by all sectors of the industry to ensure that it remains independent of the parties operating in the selling system.
		The minimum reserve price is increased t0 422 cents/kg (clean).



1983		In March the minimum reserve price is increased to 454 cents/kg (clean) following the devaluation of the Australian dollar instituted in that month. In July the minimum reserve price at Australian wool sales is increased further to 460 cents/kg (clean).



1986		IWTO-7, “Sub-sampling Staples from Grab Samples”, is adopted by the Standardisation Committee in January 1986 as a Test Method Under Examination. The Specification follows text originally provided as an Australian Standard AS 2721.
		IWTO-30, “Determination of Staple Length and Staple Strength”, originally provided as an Australian Standard AS 2810, is adopted as a Test Method Under Examination.
		AWTA Ltd commences a service providing Test Certificates for Staple Length, Staple Strength and Position of Break.
		To encourage adoption of the new measurements the Corporation applies a 2c/kg premium to the reserve price for AM tested lots for the 1986/87 season.
		The Australian Wool Corporation attempts to dictate to the Company the fee for the new service. When this is resisted, the AWC calls for an extraordinary general meeting of Members, signalling that it will invoke a clause in the Company’s Articles relating to voting entitlements on significant policy issues to over-rule the Board decision on fees. At the meeting the Members accept a fee, very slightly reduced from that initially approved by the Board.
		Requests for staple measurements rapidly increase and due to capacity limitations, aggravated by the less than expected robustness of the ATLAS instruments, AWTA Ltd is forced to restrict the number of lots being submitted for certification. The Company immediately obtains independent external advice to identify deficiencies in the equipment and associated processes and to recommend improvements. It also commences plans to invest in manufacturing additional equipment to provide a capability to test the entire Australian clip.



1987		The Australian Wool Corporation increases the premium applied to the reserve price for AM tested lots to 5c/kg, further aggravating the capacity problems being experienced by AWTA Ltd.
		The Wool Industry Act is replaced by the Wool Marketing Act. The price-setting authority for the Reserve Price Scheme is handed over to the Australian Wool Council, in consultation with the Australian Wool Corporation as a part of the general policy of reforming the statutory marketing authorities. The Australian Wool Council, again in consultation with the Wool Corporation is made responsible for apportioning the wool tax between market support, promotion and research.



1988		Following the annual general meeting of the the Australian Wool Council in Roma, Queensland, and against the advice of key economists within the Australian Wool Corporation the minimum reserve price for Australian wool is increased by a record 35% to 870 cents/kg (clean). This is the largest year on year increase since the scheme was introduced in 1974.



1989		The demand for wool collapses, with the market price falling below the minimum reserve price by the end of the year.