The wool market experienced a sharp decline this week, with all micron price indicators down across all selling centres.
The offering this week was just over 33,500 bales across the three selling centres.
It is also reported from physical auction that buying at the start of auction on the first day at all centres was slow from the beginning to end.
Both days saw a large amount of wool withdrawn or passed in.
The market continued to lose ground on the second day despite large quantities of the lower quality wool still being discounted.
It is also reported the southern selling centre lacked support even for the better style wools, as Merino price indicators lost value and the poorer styles copped much heavier discounts.
This is backed by the AWEX Eastern Market Indicator (EMI) as it fell 51 cents a kilogram on Wednesday and then a further 47c/kg on Thursday to reach 1511c/kg, with a pass-in rate of 33.5 per cent.
The largest falls came for 19 to 21-micron wools as large amounts of the finer wool types were being discounted.
This led to the Merino wool indicators having mixed results across the three selling centres, but largely ending the week down more than 140c/kg.
The sentiment at physical auction was reflected online, as there were minimal sales on AuctionsPlus wool last week, selling just 65 bales.
A line of 16-micron fleece wool sold for 1183c/kg (greasy) or 1768c/kg (clean).
A line of 20-micron Merino pieces sold for 600c/kg (greasy) or 1200c/kg (clean).
The only positive part of the week was the Merino cardings, which went against the grain and remained solid or gained 7-12c/kg at all three selling centres.
A line of 20-micron Merino cardings sold for 593c/kg (greasy) or 1147c/kg (clean).
This week the volume of supply remains much the same with 34,000 bales on offer.