The wool market has held its ground, despite the week of global financial turmoil that has impacted on the value of the Australian dollar, with the eastern market indicator closing just one cent down at 858c/kg.

According to AWEX, there were 45,189 bales offered this week, of which 11pc were passed in.

All regions finished firm, with the northern indicator on 903c/kg, down 3c/kg; the southern up 1c/kg to 820c/kg; and the western indicator down 4c/kg at 818c/kg.

There were some significant price drops in Sydney and Melbourne for 17 and 18 micron wools, with the 17.5m indicator losing 23c/kg in Melbourne.

In contrast the 28m wools made some solid gains, up by 18c/kg in Melbourne.

With some exceptions, most other types traded in a narrower price band, despite the Australian dollar losing value against the US dollar all week to close at US79.08 on Thursday.

Some 57,856 bales are expected for auction next week.