Melbourne sold in isolation on Tuesday, due to Friday’s public holiday. The market opened with discounts and prices continued to fall as the sale progressed. Sydney and Fremantle joined in on Wednesday and quickly realised similar
losses before further reductions were felt in all three centres. The Western region was the hardest hit, resulting in the WRI falling by 74 cents for the day. Sydney recorded more losses on the final day, while Fremantle managed to steady. By the end of the series prices had fallen by 50-90 cents, with losses felt across all microns, leaving the NRI 66 cents cheaper at 2,074c/kg.
The skirting market suffered similar corrections, with prices generally falling by 60-80 cents, wools carrying >4% VM were most affected. The crossbreds also lost ground, but not to the same extent with losses generally 20-40 cents cheaper. The oddment sector was the poorest performer for the week, with a limited selection struggling to attract buyer support, leaving prices generally 100 cents off the pace.