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Texas Summary: Average Down 17%

Thursday, 1st September 2005

Cumulatively over both sessions at the 2-day Fasig-Tipton Texas summer sale, 323 yearlings sold for US$3,335,100 (down fractionally on last year's 270 sold for US$3,360,800) reported thoroughbredtimes.com. However the US$10,325 average was down 17% (last year US$12,447) & the US$4,500 median was down 35.7% (last year US$7,000). The buy-back rate "jumped to 35.1%" (last year 26.4%) & Fasig-Tipton Texas director of sales Tim Boyce commented: "People were shy about buying Texas-breds. The (Texas) Legislature has not given them a reason to be optimistic" (referring to the lack of video lottery terminals in Texas & the proliferation of alternative gaming in neighboring states). Boyce also noted several interested buyers "did not make the trip from Louisiana because of Hurricane Katrina".

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