Topmakers lead the market this week as they prepare for 3 week sale recess and smaller projected quantities next year, AS Gedge and Schnieder active in opening 2 days of Newcastle sale. Other traders wait for more Chinese activity before buying and carrying stock over the break while there is also some covering of forward contracts for December shipment evident. With bigger sales over the next 2 weeks rostered we expect some downward pressure on prices however falling exchange rates may quickly change the situation.

 In other news the IWTO has accepted an Australian Industry recommendation to tighten the wool preparation category definitions for test results issued on or after the 1st of January 2008. The changes allow for 2 categories of grower lots, the "Classed Grower Lot" which will retain the "P" suffix and the "Other Grower Lot" which will be identified by a new "D" test number suffix. Wools that now qualify for "Other Grower Lots" is raw wool from an individual grower that either is not classed by a registered classer or not classed in accordance with the AWEX code of practise. These wools were previously given an "X" symbol but could still be bought and delivered as a "P" cert, now they can not be delivered this way and will attract heavy discounts from buyers as they can not be delivered to many mills around the World.