The upwards trend of the Australian wool market was short-lived, with dramatic price falls occurring on all types last week.
The Eastern Market Indicator (EMI) closed week 16 at 1970 cents a kilogram, a 53c/kg decrease on the week prior, which was the first time in four weeks there had been a rise.
In the last five weeks, the EMI has fallen 146c/kg from its record of 2116c/kg in August.
The Southern Market Indicator (SMI) fell 56c/kg on the week prior, closing at 1938c/kg.
It was the 16.5 micron category that was hit the hardest, falling 118c/kg.
And it was on an offering that was up 4012 bales on the week prior, at 36,084 bales.
This offering was down 74,306 bales year-on-year.
The passed-in rate reflected the EMI drop, with 19.4 per cent of bales passed-in, up 12.1pc on the week before.
Joely Mitchell
Joely started her career at Stock & Land as a cadet journalist in 2016. She is now the editor of the paper.
Joely started her career at Stock & Land as a cadet journalist in 2016. She is now the editor of the paper.
