The Australian wool market eased for a fourth consecutive week, although the pace of decline moderated and improved clearance rates suggested buyers and sellers were moving closer to a workable price level. The Eastern Market Indicator (EMI) fell 25 cents to 1,698 A¢/kg, while in US-dollar terms the EMI declined 21 cents to 1,191 US¢/kg. A total of 25,022 bales was offered nationally, 2,912 fewer than the previous week, with 21,618 bales sold. Significantly, the pass-in rate halved from 27.0% to 13.6%, indicating greater seller willingness to meet prevailing market prices.

The adjusted Wednesday–Thursday selling schedule, following Melbourne's Tuesday public holiday, opened with further price reductions. The EMI lost 18 cents on Wednesday before easing another seven cents on Thursday. Eastern Merino categories generally declined, although Fremantle recorded gains of 4–10 cents for 19-micron and finer wool.

Better-style, well-measured fine wool continued to attract premiums over standard topmakingdescriptions, with Sydney buying competition strengthening for Italian-specification fleece as the week continued. Chinese processors led buying on Wednesday, while exporters and processors competed more evenly on Thursday.

The superfine category showed a marked improvement in clearance rates, with only 9.1% of Merino fleece 19.5 micron and finer passed in, compared with 32.9% the previous week. Crossbred wool remained under pressure, with Melbourne's 26, 28 and 30-micron indicators falling 64, 45 and 52 centsrespectively.

Underlying supply remains constrained. Season-to-date Australian-sourced offerings are 13.3% below last year, while first-hand offerings are down 14.2%. Nevertheless, auction turnover has reached $843 million, $93 million above last season, reflecting substantially higher wool values. The EMI also remains 279 cents, or 19.7%, above the corresponding sale last year.

With approximately 30,919 bales forecast for Week 20, the larger offering will test whether the improving processor participation and lower pass-in rates signal a stabilisingmarket.