The final sale of the first half of the wool selling season was held at Australian wool auctions this week. Wool auction sales will now be in recess for the next 3 weeks. On commencement of the week, this appeared to be pivotal point of the year which could determine the immediate prospects for the continuing good fortune for wool prices. Early thoughts were that one of the largest offerings in recent memory and the initial adverse foreign currency exchange direction were conspiring to prevent any improvement in price levels, but the entrenched strength of demand for our fibre came to the fore. Pleasingly for most of participants a very strong conclusion eventuated. In particular, the Merino sector displayed a competition that many buyers described as being one of the most positive finishes prior to a break seen for some time. On the back of this strength, the Eastern Market Indicator (EMI) pushed higher to close out at 1355ac clean/kg representing a gain of 6ac clean/kg.