The larger processors from China were on the front foot securing mill fodder, with little competition as traders and indent buyers remained on the sidelines.

The fine Merino categories suffered the largest falls.

As the Fremantle region had another one-week recess, only Sydney and Melbourne were in operation. The total national offering was only 19,072 bales.

From the opening lot, it was immediately apparent that buyer confidence was very low.

Prices across all microns were generally discounted by 20 to 40 cents, then slowly but noticeably deteriorated as the day progressed, as the market struggled to find a solid level.

By the end of the day most types and descriptions were selling at levels 40 to 60 cents below those achieved at the previous sale.

This was reflected in the individual Micron Price Guides (MPGs), which fell by a similar amount.

As a result of these losses, the AWEX Eastern Market Indicator (EMI) lost 52 cents on the first day of selling.

The second day of selling the market generally recorded further losses, but not to the same extent as day one. Some broader MPGs in the southern region managed small increases as the market found a level.

Despite a more positive tone, the EMI lost a further 5 cents, closing the week at 1766 cents a kilogram, an overall loss of 57 cents.

The EMI is now 350 cents below the record it achieved in August last year, a reduction of 16.5 per cent. The EMI has fallen 307 cents since the corresponding sale of 2018, a loss of 14.8 per cent.

The oddment market had an up and down week, losing 20 to 30 cents on the first selling day, then recovering 5 to 10 cents of those losses on the second.

Fremantle returns next week for the final sale of the season. Currently, there is 30,872 bales rostered for sale, with selling in all three centres.