Third sale week of the new Australian Wool Selling Program and fleece prices sliding last week wiped out much of the good gains of the first fortnight's trading at the Western Wool Centre (WWC).
Brokers said they were expecting the WWC market to open between 20 cents and 30c a kilogram softer last week, when live auction wool sales resumed after the three-week annual recess.
But few brokers predicted how resolutely some Merino wools at the broader end managed to hang on to their value during the first day back's trading.
Apart from 19 micron fleece - stand-out biggest loser, dropping 26c/kg on the first day back when Nutrien Ag Solutions Wool and Dyson Jones Wool Marketing Services were selling - most of the price damage occurred on the second day when Elders, Westcoast Rural, AWN, AWH and Wool Agency auctioned catalogues.
The indicative price for 20 micron fleece actually gained 4c on the first day and the Western Market Indicator (WMI) remained at 1339c/kg clean - the price it had been before the recess.
Forewarned by brokers the market was likely to be soft, woolgrowers were prepared to see lots passed in on the first day, rather than adjust reserves and accept lower offers without a fight.
After 158 bales were withdrawn presale, the fleece passed-in rate topped 16 per cent.
But on the second day, when it quickly became obvious buyers were not prepared to chase anything with average or lesser specification, woolgrowers capitulated and accepted sliding prices.
The number of bales withdrawn presale increased to 179, but the fleece passed-in rate sank back to 6.4pc.
Price declines for fleece wools were across the board on the second day, with 19 micron still unwanted and finishing down 45c to 1454c/kg, the biggest fall of the week.
Close behind was 18 micron fleece which lost 39c and finished last week at 1568c/kg - the only WWC indicator so far to drop below the price it started the season at.
The mid-micron fleece wools fared better with losses contained to 12c-15c for the week, while Merino cardings bucked the trend and finished up 24c at 751c/kg.
The WMI eased 7c on the second day to finish at 1332c/kg.
This week woolgrowers and brokers will fight back by restricting the WWC offering to 7548 bales, 2135 fewer than was offered last week and the national offering will be down by a similar amount.
There are no wool sales at the WWC next week to allow brokers and buyers to attend Wool Week in Melbourne, Victoria.
