The wool market experienced a sharp decline last week with most micron price indicators down across all selling centres.
Some of the reluctance of buyers has been attributed to the quality of wool on offer with a large amount of high VM and low strength wool as the current seasonal conditions across most of Australia continue to have an effect.
Some relief for NSW Central West, North West and parts of Queensland with rain falls across these areas, although decent follow up is needed given the length of dry to provide a break.
The AWEX EMI closed the week of selling 29ac lower at 1979ac with a national passed in rate of 12.5%.
The softer buying sentiment was reflected in online buying as AuctionsPlus wool sold 55 bales last week.
The price for superfine 15µ micron Merino wether fleece wool was 2200c greasy or 2887c dry and the price for 16µ micron fleece wool was 2110c greasy or 2726c dry.
Top price 20µ micron fleece wool was 1400c greasy or 2251c dry. Crossbred fleece wool was topped by a line of 29µ micron wool at 475c greasy or 706c dry.
Looking forward there is an offering of over 44,000 bales next week, it is expected there will be a similar sentiment this week.