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Why Stallion Market Faces Transformation
In the UK, prominent thoroughbred breeding analyst Jocelyn De Moubray has examined the current state of the sales market for racingpost.com & summed up: “The recession is going to coincide with & accelerate a transformation of the stallion market. . . . . From the moment the possibility of a severe recession appeared, in the bloodstock market as in so many others, there has been a flight to what is seen as safety, or at least at attempt to lower the risks involved in breeding for the market. This means the balance between proven & unproven sires has changed. In the boom years, breeders & yearling buyers were happy to take risks on unproven sires as the upside could be so good. Since the end of 2008 those still in the market have less of an appetite for such risks & prefer going for proven sires. In 2008 about half of the 64 sires covering 100 mares or more (in England & Ireland) had not yet had runners on the track & it is likely that when the figures for the 2009 covering season are published this proportion will have changed. . . . . . At the yearling sales the balance between proven & unproven sires has changed as well. At the Tattersalls October sales 77 yearlings made 200,000 guineas (A$380,000) or more & only 4 of these were by sires who have not had runners; of the 192 yearlings which made more than 100,000 guineas (A$190,000) fewer than 10% were by new sires.” To read the full analysis, click on the link in The Great Debate panel on the right-hand side of this page.