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EMI has its biggest loss since April after three-week recess

Headshot of Bob Garnant
Bob GarnantCountryman
Wool quality, as pictured from the sale topper, was a feature at the Billandri sale.
Camera IconWool quality, as pictured from the sale topper, was a feature at the Billandri sale. Credit: Bob Garnant

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.

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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.

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