AFTER making stellar price gains last week, the Eastern Market Indicator has fallen from its record high to finish the week on 1572 cents a kilogram.
That’s a dip of 42c/kg in the past week.
Australian Wool Exchange market information manager Lionel Plunkett said the tone of the market was again set from the opening lot and prices were quickly and heavily discounted.
“There was an unusual selling pattern, with only Sydney and Melbourne offering on Tuesday and Wednesday, due to Fremantle having a one week recess and to accommodate Wool Week activities scheduled for Thursday,” he said.
Mr Plunkett said generally, most types and descriptions across the entire Merino spectrum traded at levels 30c/kg to 50c/kg below those achieved at the previous sale.
“The lesser style lots and lots with unfavourable length and strength results were the hardest hit in the falling market,” he said.
“The only real shining light for the week, was stylish superfine Wools (17.0 micron and finer) exhibiting excellent additional measurements, which sold at levels very close to those achieved at the previous sale.”
