THE wool market drifted lower again this week, with the Eastern Market Indicator closing 27 cents per kilogram down at 1088c/kg clean.
Despite the forecast of a larger offering, 50,790 bales hit the auction rooms.
The market downturn caused a significant jump in the pass-in rate – up by more than 7 per cent to 23.7pc.
The addition of a catalogue from Launceston increased the volume of superfine types in Melbourne.
The finer wools dipped by 30-45c/kg, while medium types were 25-40c/kg lower for the week.
There were some brighter patches in the market however, with spinner and better style wools attracting good support earlier in the week.
On the flipside, lower spec types including tender and high mid-break wools were again in the gun.
Prices for poorer fleeces were similar to those for Merino skirtings, which followed the market down to finish 30-50c/kg lower.
The crossbred catalogue was less impacted, with broader types, in particular, only slightly lower. Cardings eased by about 10c/kg.
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