This week the market started with another small fall of five cents a kilogram (clean) across the board as the eastern market indicator slipped to 869c/kg, with 10.6pc of the 18,000 bale offering passed in.

At early sales this week in the north, fine wools held their prices but the 20 and 21 micron wools lost 10c/kg and broader Merino lines dropped 5c/kg.

A similar story was seen in Melbourne, where finer wools actually rose in areas according to the Australian Wool Exchange, while 19-24m lines fell by up to 15c/kg.

The 18m guide in the north fell 8c/kg to 1429c/kg, while the 19m indicator in Sydney fell 5c/kg to 1097c/kg and gained 2c/kg in the south to finish at 1083c/kg.

The 21m wools on average sold to a slightly weaker demand, ending the first day's trade this week down 6c/kg to 859c/kg in Sydney and down 9c/kg to 874c/kg in Melbourne.

Tasmanian wool buyer and exporter Bob Saunders said the market was really just waiting for the action to begin after the three week break starting next week.

"There is not a lot of activity from the Chinese or Europeans at the moment," he said.

"It is very hard to see where the market is heading as a slowing economic climate is being matched by a looming chronic shortage."