The eastern market indicator (EMI) rose by 22¢/kg (+2.9pc), ending the week at 788¢/kg.

It was second positive week in succession for the wool market, with EMI up in Australian, US and Euro currencies and increase across all wool types and nearly all micron ranges.

The EMI has now surged by 9pc, picking up 65¢/kg, over the last two sales, after its steep falls in October-November, as the world commodity crunch tightened.

Regional indicator closing prices this week were:

• Northern: Up 25¢/kg (+3.1pc) , to 819¢/kg.

• Southern: Up 20¢ (+2.7pc), to 763¢/kg.

• Western: Up 8¢ (+1.1pc), finishing the week at 754¢/kg.

The EMI rose by 17¢/kg on Wednesday and by 5¢/kg on Thursday, in a three-day sale in Melbourne, and a two-day sale in Sydney.

AWEX did not report he EMI on Tuesday, however, because New Zealand wool only was being offered on the first day of the Melbourne sale.

A total of 36,468 bales of Australian wool were on offer - the smallest weekly offering so far for the 2008-09 selling season.

That compares with 43,661 bales last week.

In the coming weeks, weekly offerings are expected to be fewer than 50,000 bales.

A total of 9.4pc of this week's offering was passed in - 5.7pc in Sydney, 7.2pc in Melbourne but 19.7pc in Fremantle.

The $A-$US exchange rate eased by US.42¢ (0.7pc) during this week's sales, compared with that during the last sale.

The exchange rate against the euro fell by 0.47 euro cents (-0.9pc), to close at 50.85 euro cents on Thursday night.

When looked at in other currencies, the EMI this week rose by 10¢ (+2.0pc) in US terms and by 8¢ (+2.0pc) in euro terms. when compared with the previous sale's EMI.