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Entry 34

September 20, 2009 · By · Share

I restart my weekly blog after a six week stretch at Del Mar and Saratoga where we did video blogs each week.

Overall, we had two very solid meets on the east and west coasts.  Of course the highlight of the summer was our tough, grey colt, Macho Again, running a close second to the super filly, Rachel Alexandra, in the Woodward on September 3rd at the SPA.  Some writers called it the best race in the history of Saratoga.  Wow, they’ve run a good number of races on those hallowed grounds over the last 140 some years.

Very Cool.  If you haven't seen the race, click here.

I just got back from the Keeneland Sale.  Needless to say "the times they are a changing."  The averages prices were down almost 45%.  The buyback rate was almost 40%.  “Buyback” is the term used when the sellers don’t accept the auction price and effectively say to the market “I value my horse higher than you do”.

Far too many horses sold for less than the stud fee paid to produce them.  The stallion market has dried up and the stud fees for 2010 will surely tumble.

Now, the good news – finally the end user is getting a better shot at making a decent return on investment.  For too many years, the market forgot about the people and stables who race these sale horses.  Things are starting to turn and it’s about time.

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