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California Yearlings: Average Down 16.3%
Overall the Barretts/CTBA sale recorded across-the-board declines as 149 yearlings sold (from 208 offered) for US$2,486,600: down 26.2% drop from 2007's 169 sold for US$3,369,600. The US$16,689 average was down 16.3% (last year US$19,938) & the US$9,000 median fell 18.2% (last year US$11,000). However the 28.4% buy-back rate was a significant improvement on last year's 40.1%. Barretts president Jerry McMahon noted this week's Wall Street woes & recent declines at US thoroughbred sales nation-wide in summing up: "Our market held up reasonably well, in light of what we were up against. Our drop in average is a lot better than what is going on elsewhere in the industry."