As the sale progressed buyer confidence eroded this week, pushing prices down continually. The finer microns were the hardest hit and by the end of the series 17.5 micron and finer were selling at levels 100-150 cents below those achieved the previous week. 19 micron and coarser did not sustain the same losses and were generally 50-75 cents easier.
The NRI lost a total of 107 cents for the week, closing at 1914 cents. The large price corrections were met with firm seller resistance, reflected by a passed in rate of 23.1% for the week, this was the highest passed in rate since February 2014, and came on top of the 6.9% of wool that was withdrawn prior to sale.
The skirtings followed a very similar path to the fleece. General losses of 100-150 cents were experienced, wool finer than 17.5 micron were most affected. The oddment sector had another week of large losses. Locks, stains and crutchings fell by 100-150 cents, pushing the three carding indicators down by an average of 138 cents.