It was a comparatively calmer environment in the wool market last week, contrasting the previous week's dramatic price movements.
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The Eastern Market Indicator fell 33 cents a kilogram to finish the week at 1576c/kg, down 2.05 per cent.
In US dollar terms this equates to 1082c/kg. With the EMI dropping by 2.6pc in US dollar terms, overseas interest may improve as prices remain comparatively cheap.
The 19-micron wool out of Fremantle was the only category that held its ground, sitting at 1795c/kg, up 1c/kg on last week.
Online activity was much weaker this week, seeing 231 bales sell on AuctionsPlus, compared to the 3700 the week before.
The 15 and 16-micron fleece wool sold to a top of 1506c/kg and 1700c/kg (greasy) or 2372c/kg and 2304c/kg (clean).
The 17 and 18-micron fleece wool sold up to 1600c/kg and 1328c/kg (greasy), or 1600c/kg and 1863c/kg (clean), while 19 and 20-micron fleece wool sold up to 1125c/kg and 1283c/kg (greasy), or 1616c/kg and 1283c/kg (clean).
The top priced lot online was a line of 16.5-micron, SUPER AAAA Merino fleece wool. This lot was offered by Elders, branded DF/CROYE, selling for 1700c/kg (greasy) or 2304c/kg (clean).
Looking back to the live auctions, passed-in rates were once again higher, with 15.9pc of the offering failing to sell.
Growers would have a good idea of where prices should be in relation to the current supply issues. It had been reported that the lower prices brought interest at a processor level out of China and Europe.
Markets have taken a hit globally in response to the outbreak of the Coronavirus in China, which will no doubt have a flow-on effect regarding wool prices.
This coupled with China being essentially in a shutdown period due to the Lunar New year celebrations, may act to further increase passed-in rates and hamper demand.
