I had a few messaged questions regarding my quotes in this morning’s Star Tribune breeding article. It’s nice to see some folks interested in real dialogue associated with the differences between hope and emotional exuberance, versus intellectual economics. Many thanks to Rachel Blount for presenting an honest and balanced view of the highs and lows.
One of the questions I was asked related to auction sale prices in Minnesota. Since every sale seems to be described as “a good sale” with folks patting themselves on the back, here are the facts straight from the Jockey Club.
Since the Mystic Lake arrangement was announced in 2012 over the last 4 years from 2012 through 2016, the average public sale prices for Minnesota Bred yearlings was $9,454. A full decade ago, from 2002 through 2006, the average Minnesota Bred yearling sale price was $9,524. Yes, that’s right. Minnesota breeders a decade ago realized higher prices for their Minnesota bred yearlings, even though Minnesota available gross purses rose 39% during those same time periods! With inflation factored in, Minnesota Bred yearling sale prices today are almost $3,000 per yearling lower than they were a decade ago.
Following is a direct link to the Star Tribune article, though for some I think I should also include a link to, “Hope is NOT a Strategy”: www.startribune.com/horse-breeding-in-minnesota-is-a-high-risk-high-reward-business/440096703/#1
Dave Astar is a race horse owner, stallion owner, breeder, 40 year business executive, and 50 year handicapper.