The wool market went into freefall this week after a winter recess.
The Western market indicator fell 46 cents and is now sitting under 1,000 cents a kilo for the first time on over eighteen months.
Wool broker Andrew Beaton blames the lack of demand out of Europe.
"The first sale after the three-week winter recess and I think a lot of the buyers were still out in the playground hiding behind the toilets," he said.
"We expected a little bit of a drop, but (it was) probably twice as much in reality, you know, as what we expected, so we didn't expect it to drop that much."
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