EMI has its biggest loss since April after three-week recess
The first wool sale for nearly a month failed to spark enthusiasm from buyers, with the Eastern Market Indicator experiencing its biggest weekly fall since April.
The Eastern Market Indicator fell by 128¢/kg, closing the week at 1006¢/kg clean — the highest weekly fall since April when it lost 155¢/kg.
The Western Market Indicator fell 147¢/kg to close at 1055¢/kg, down on the 1134¢ it reached at the last sale before the break.
It was the first sale opportunity for nearly a month after the mid-year three-week recess.
Woolgrowers were keen to get their product to market, with bale offerings up 7502 to total 42,743 compared to the previous sale.
All three auction centres, at Sydney, Melbourne, and Perth, sold on Tuesday and Wednesday.
The national quantity reduces next week to 33,314 bales and Fremantle will only require a one day sale, selling on Wednesday.
Get the latest news from thewest.com.au in your inbox.
Sign up for our emails