The depreciation of price slowed down at the Australian wool auctions this week assisted by far less volume put up for sale. The eastern market indicator (EMI) fell by 1.7 per cent to 929ac cln/kg and the USD EMI lost more by falling to 669usc cln/kg, a 2.5 per cent decline. However, clearance rate lifted and 89 per cent of the offering was sold.
"Prices spent the week trying to establish a firmer footing of trade where local and overseas buyers could gain some semblance of confidence and support the market. In specific types and descriptions this managed to occur to some degree, but largely softer prices resulted," the Australian Wool Innovation Ltd (AWI) said in its commentary for sale week 9 of the current wool marketing season.