Another week, another tough time at the office for the Australian wool market.
The Australian Wool Exchange (AWEX) Eastern Market Indicator (EMI) lost 16 cents a kilogram last week to close at 929c/kg - or 671c/kg in US Dollar terms.
The market had a 21.7 per cent pass-in rate during the two days of auctions - held in Sydney and Melbourne - as growers weighed-up their selling options.
The designated superfine auction in the northern region did see quality fine-type wools draw buyer interest.
What's more, overseas mills were keen to secure 16.5 to 17.5-micron types, with a potential supply constraint looming on the horizon.
But, across the board, the market was generally sluggish.
The online offer board has been utilised daily during the past week and 190 bales were sold.
Merino fleeces drew a lot of buyer interest online and 18.3-micron Merino fleece wool sold for 767c/kg greasy.
This lot, offered through Elders Wool, had a vegetable matter of 1.6 per cent, staple length of 97 millimetres and was branded Stradbrooke.
The top priced lot was 13.7-micron Australian superfine wool, which reached 2770c/kg greasy.
It was branded Glen Stuart and sold through Roberts Wool.
There are an estimated 32,958 bales on offer at physical auction sales this week and all three centres are operating.
Looking ahead, there has already been some inquiry online for wool this week.
But there are no reports of a market rally as yet.
With the market in such a negative space, any forward step for the industry would be most welcome.
