The AWEX EMI closed the week on 1873c, down 28c at auction sales in Australia. After spending 8 selling weeks over 1900c and peaking at 1989c, this week’s fall in the EMI supported the news of price resistance being felt by the top makers down the pipeline. In USD terms the EMI fell 18c to close on 1311 USc. It spent 15 weeks above 1300c in that time and spent just 2 weeks above 1400c. 31,751 bales went under the hammer as Fremantle returned to the last sale before the mid-year sale recess, with a severely reduce clearance rate of 84.7%. Whilst the increase in the pass in rate over the week may have been justified, the exporters I have spoken to reported reduced orders for the week as the prices that were being offered were somewhat unsatisfactory.