Arrowfield has set the trend that is likely to be followed by all other studs this year, with Australia's most expensive stallion Redoute's Choice having a 40% cut in his fee, down to $180,000 (+Goods and Sales Tax).
However, barnmate and leading first season sire Charge Forward has bucked the trend, with his fee going up 11% to $27,500.
Fellow first crop sire Not A Single Doubt remains unchanged at $13,750 and all other Arrowfield sires have fallen anywhere from 20% to 48%.
Charge Forward is the leading first season sire by earnings, while Not A Single doubt is equal head of the individual winners list (with Fastnet Rock).
Arrowfield had three stallions topping six-figure service fees in 2008, but Flying Spur (down 40% to $82,500) and Hussonet (down 48% to $71,500) will come in under that mark this year.
“We have elected to fully recognize the current market situation, occasioned by the global financial crisis and to adjust our fees to levels which will ensure breeders can achieve profitable outcomes by using Arrowfield's first class stallion line-up,” Arrowfield's John Messara said.
“While the Easter yearling average was down about a third on the 2008 figure, it should be remembered that the service fees at the time of conception of these yearlings made a lot of the Easter trade quite profitable.
“The other factor that breeders should consider is that the 2009 conceptions will not be sold until the 2012 yearling sales, by which time it is hoped the economy will have recovered.”
Messara said that as “an industry leader” Arrowfield considered it important to contribute to the sustainability of the Australian breeding industry.
He pointed out that Redoute's Choice is currently the leading sire in Australia, both on the sires list by earnings, stakes winners, stakes wins, and Average-Earnings Index.
He is also the leading sire in the sales ring, where he topped the sires averages and had 10 of the top 15 pricesat the Inglis Easter Sale and seven of the top 15 prices at the Magic Millions Premier Yearling Sale.
Other changes on the Arrowfield roster include Snitzel and Starcraft, whose first-crop yearlings are being sold this year, each down by 33% to $22,000.
Veteran Danzero is down by 20% to $22,000.
The fees of stallions in the Arrowfield roster have been adjusted as follows:
Charge Forward $27,500 (inc GST) up 11%
Danzero $22,000 (inc GST) down 20%
Flying Spur $82,500 (inc GST) down 40%
Hussonet (USA) $71,500 (inc GST) down 48%
Not A Single Doubt $13,750 (inc GST) unchanged
Redoute's Choice $198,000 (inc GST) down 40%
Snitzel $22,000 (inc GST) down 33%
Starcraft (NZ) $22,000 (inc GST) down 33% ________________________