SUPERFINE wool prices are continuing to bear the brunt of the market downturn.
In Melbourne last week the southern 17 and 18-micron indicators fell 20c and 22c/kg clean, respectively.
But balanced with strong demand for the broader Merino crossbred types, the Eastern Market Indicator closed down just 5c/kg, to 725c/kg clean.
However, of more concern to Australian markets was the fact that in US dollars the EMI slipped 14c/kg, to US465c/kg clean.
Superfine specialist exporter G Schneider, in its weekly report, said there appeared to be no real positives in the market.
However, BWK Elders trading manager John Roberts was slightly more upbeat.
Mr Roberts said Chinese processors were very low on greasy wool supplies and had no option but to increase their purchases if they wished to survive.
He said there were signs of increased Chinese activity at last Thursday's sale, where prices in Melbourne recovered some of the losses of the previous two days.
This week the superfine wool market will be fully tested by the last Newcastle specialty sale of the season.
Newcastle has rostered 17,590 bales from the national weekly offering 50,815 bales.
In its report, Schneider was not confident of improvement in demand for the Newcastle offering, considering that much of it contained re-offered wool.
