The AWEX Eastern Market Indicator (EMI) finished at 775 cents a kilogram, despite the Australian dollar drifting lower over the course of the week and hitting a low of 78.5US cents.

The biggest rises were in the fine to medium microns which made gains of 10c/kg clean.

The immediate cause of the lackluster market was the closing of order books typically associated with end of financial year sales and undersized supply across both Australian and international selling centres.

However, analysts said buyers continued to struggle for orders as economic woes hampered wool retail sales.

Since the market hit a low in February, a 12-13 per cent rally had raised the value of EMI to 823c/kg.

That buying demand pushing the market had died out, according to Fox and Lillie buyer Nigel Rendell.

“We are getting little enquiry from Europe; China is buying at a price, but volatile currency is making it difficult at the moment and there is a bit of concern if do sell certain quantities it is very hard to source because the selection is terrible,” Mr Rendell said.

“Next week is a one day sale, and then two day and then three week break so it is virtually impossible for any exporter to export any quantity before August.

“There is no stock around the world yet the capacity for wool top making and scouring continues to increase so at some stage there is going to be a massive shortage of wool.

“Traditionally the end of financial year is a very quite time, just a clean out of lots, but last month it’s definitely been particularly quite particularly on Merino fleece side, while cross bred sales have been sufficient due to lack of supply from Argentina and New Zealand.”

He said communication with his buyers was still positive and “assumed” orders would resume in August and September.

However, Elders wool coordinator Colin Donohue said today he expected this week’s market to firm 5-10c/kg.

After Wednesday's sales the EMI was up 2c/kg at 777c/kg, after sales in all three centres.