Auction prices continued to climb this week in sales throughout Australia, however Thursday's market did retreat most of Tuesday/Wednesday's gain. As mentioned in previous weeks China continues to reject current US dollar prices and Europe also remains quite, as sale quantities start to  slowly increase expect the market to retrace recent gains. Futures are generally a reasonable indicator and they all fell around 30 cents yesterday, so expect the market to slide next week with the Dollar starting to rise above 82 US cents again. 

Medium term view though is still bullish after we get past the spring shorn quantities of September and early October, the unknown will be how much wool is available next year and one would expect the market to rise significantly through Dec - April with much volatility involved.