WOOL prices slipped last week as one of the biggest offerings since the mid-year break tested competition.
The Eastern Market Indicator began the week at 1193c/kg, but closed at 1168c/kg at the end of the week of sales.
Dominating the Melbourne offering was a large amount of fine wool from Tasmania and analysts said, while the market was down, it held up well.
Eastern wool sales, while down, fared better than producers selling in Western Australia, where their indicator dropped 41c/kg for the week.
Of the 50,304 bales offered at sales last week, 15 per cent were passed in, but 42,559 bales still sold to a field of buyers dominated by China and India.
Another big offering of 49,343 bales was scheduled to be sold this week in Sydney, Melbourne and Fremantle before the market has a three-week recess over Christmas.
While wool prices fell last week, values were still tracking above where they were a year ago.
Last week's close of the EMI at 1168c/kg made it 161c/kg higher than it was at the same time last year.
Better wool rates were "about time", according to Paul Marshman who sold his 73-bale line of Merino wool last week.
Mr Marshman, who runs Merinos and crossbred sheep on his Leslie Manor farm, said it had been a "long haul" of low wool prices.
Most of his lines sold 20-30c/kg above valuations but a couple of lines sold for an even higher premium.
The fleece wool, which ranged from 18.4-19.7 micron, made up to 1072c/kg greasy weight and averaged 913c/kg.
"The prices are reasonable now, but we need to be getting that," he said.
