The Minnesota Thoroughbred Sales Results from yesterday's sale broke all past records with gross proceeds of $454,100! I have often said average yearling sale prices need to rise above $10,000 to recoup the average expense costs, including labor, for breeding to make economic sense in Minnesota. With yesterday's $10,560 average sale price, that level has finally been realized.
Breeding in Minnesota is a tough gig. The breeding program has remained unchanged for years with an unpredictable and comparatively low breeder's fund economic incentive structure. Consequently, breeders in Minnesota have long needed an increase in the average sale prices to hold their own. After the rebound in Minnesota racing which began about 3 years ago coincident with a Mystic Lake $75,000,000 ten year economic subsidy, a trickle down breeder economic effect seems to be occurring.
Interestingly, this year the sale was held at a new site, on a new day, in much improved facilities. A few folks asked me what I thought about it afterwards. My answer is the same as it is to all things. It's all about results! Everything else is noise and frankly, I doubt that the results could have been much better. Nice job to those from the MTA involved in this years sale.
It's also very nice to see the folks that have been loyal to Minnesota breeding, in the good times and bad, now have a chance to share in the wealth.
Dave Astar is a race horse owner, stallion owner, breeder, 40 year business executive, and 50 year handicapper.