Pete Bradley

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F-T Auction Kicks Off Yearling Selling Season

F-T Auction Kicks Off Yearling Selling Season

Even though the stock market has been enjoying a recent rally, buyers and sellers of young horses aren't expecting a similar rebound in yearling prices. Heading into the Fasig-Tipton Kentucky July select auction, which kicks off the 2009 yearling selling season, some people were predicting further downturns of 30% or more in key business figures, mainly because the health of the overall economy, here and abroad, remains weak.

More of the Same at Keeneland's Juvenile Sale

Sale records were established for average and median during Keeneland's April auction of 2-year-olds in training. But those results didn't tell the whole story about what happened on a cold and snowy spring day in Central Kentucky. The buy-back rate inched upward to a sale-record high. The number sold plunged to a sale-record low. And consignors complained often about buyers who were too picky and too few in numbers. In other words, the auction experienced many of the same problems that afflicted earlier juvenile sales this year in Florida and California.

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