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California Mixed Day-1: Average Falls 69%
Overall on Day-1 in California, Barretts Equine reported double-digit declines across the board: 143 horses sold (from 231 offered) for US$536,600 which was down 78% from last year's 201 sold for US$2,434,500. The average plummeted 69%: from US$12,112 to US$3,752. And the median fell 48.6%: from US$3,500 to US$1,800. The buy-back rate was 38.1% compared with 20.9% during the opening session in 2007. Barretts president Jerry McMahon told bloodhorse.com: "It was tough sledding as expected. This is kind of the new reality at the lower end of the horse market & I think it's going to be that way for a while."