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• Our financial position
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•     Markets and consumers
  • Domestic trade and consumer promotion
  • Export trade and consumer promotion
  • Trade development - livestock exports
  • Market access
  • Red meat innovation
  • Co-products
•     Product initiatives
  • Meat safety/ issues management
  • Meat Standards Australia
•     Community concerns
  • Environment - resource management
  • Animal welfare - on-farm
  • Animal welfare - livestock export
  • Industry integrity communications
•     Whole-of-chain efficiency
  • Improving productivity
  • Adoption and capacity
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•     Strategic research & development
•     Other initiatives
  • Corporate communications
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• Corporate governance
  • Directors' report
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• Financial report
  • Income statement
  • Balance sheet
  • Statement of recognised income and expense
  • Statement of cash flows
• Notes to the financial statements
• Directors' declaration
• Independent audit report

Notes to the financial statements
Average strike rate Buy amount
2007 2006 2007 2006
Floor Ceiling Floor Ceiling $000 $000
(c) Foreign exchange - collar options
Japanese Yen
Expiring in:
3 months or less 86.64 90.09 83.00 88.91 877 1,156
Over 3 to 12 months 92.44 96.35 83.10 87.23 3,145 1,609
4,022 2,765
Interest rate risk
The consolidated entity's exposure to interest rate risk and the effective interest rates of financial assets as at the reporting

date are as follows:
Floating Fixed interest Effective interest rate
interest rate maturing in
rate 1 year or less Floating Fixed
2007 Notes $000 $000 % %

Financial assets
Cash assets
Cash assets - NLIS (a)
On call deposits
On call deposits - NLIS (a)
Term deposit - rental guarantee
Bills of exchange
13(c)
13(c)
1,748
76
2,243
6,020
385
-
-
-
-
-
-
37,554
5.75
5.75
6.15
6.15
6.15
-
-
-
-
-
-
6.36
2006

Financial assets
Cash assets
On call deposit
Term deposit - rental guarantee
Bills of exchange
8,868
14
371
-
-
-
-
21,775
5.50
5.65
5.65
-
-
-
-
5.82
Net Fair Values

All financial assets and liabilities have been recognised at the balance date at their net fair values, except as noted below.
The net fair value of a financial asset is the amount at which the asset could be exchanged in a current transaction between
willing parties after allowing for transaction costs.

Consolidated 2007 Consolidated 2006
Carrying Net fair Carrying Net fair
amount value amount value
$000 $000 $000 $000

Financial assets:
Bank bills (a) 37,554 37,853 21,775 21,975
(a) The net fair value of bank bills is calculated to include the interest accrued as at 30 June 2007.
30. FINANCINg ARRANgEMENTS
MLA has access to two funding facilities which are available under special circumstances in response to industry crises from the

Red Meat Advisory Council Limited (RMAC).
A $0.5 million (2006: $0.5 million) emergency fund can be accessed by MLA for scoping purposes following consultation with the
affected species sector/sectors. In addition, a $5 million (2006: $5 million) contingency fund for the management of industry crises
may be accessible. Use of this facility requires a two-thirds majority decision of RMAC directors with terms and conditions as