Plummeting Foal Crops: A Possible Cause and Implications

[FiftyYearsPlus]

Recently I had the time to do a little thinking about the state of racing. Since I have three well bred allowance mares that should be bred, I did some calculations on the cost of raising a foal and bringing it to the sales or to the race track. For my quick purposes, I arrived at $30K for the former, and $45K for the latter, both plus stud fee and including the cost of boarding the mare.

The ups and downs of the yearling market have been well documented elsewhere, but my conclusion currently is that despite commentaries asserting rising prices, the market is unrewarding to breeders beyond the first 20% of hip numbers.

Logically, the only other way that a breeder can get a reasonable return for their investment is at the race track. For those gifted runners at the MSW/Allowance level that should be achievable. However, for the 90-95% that quickly fall into the claiming ranks that needed return is far more elusive. My research indicates that claiming prices have not changed in at least 20 years. In fact, back then it was common for claiming prices to be 2 to 3 times the purse amount. Today, that relationship has virtually reversed. As a consequence, breeders and their clients through the auction process, often cannot maintain ownership of their runners long enough to get the needed return.

The implications for the racing industry are predictable. Short fields lead to smaller fan interest, declining mutual handle, and shortened or terminated race meets. And all of the beneficiaries of racing will suffer unless the breeders, who make the investments in farms and mares and stud fees, are once again permitted to get a fair return on their investment through a claiming scale adjusted to contemporary terms.

[ct2346]

Heartily agree. But the trend is actually going the other way. If you look at the declining purses at the middle/lower tracks there is no way that they will support the cost of breeding and raising and training to get to that point. I mean, just look at Turfway. An absolute joke.

If you are breeding to race, you have to try for an outcome that starts at the upper level tracks.

Intersting to hear what decision you make for your three mares.

[RandomThoughts]

Don't mean to be a nuisance but I think this is important for everyone in racing to be aware of. If foal crops continue to decline as is indicated, everyone in racing from the farm grooms to the betting clerks will be in another line of work soon. No horses...No racing.

More recent examples of large breeders dispersing their stock: 1) Fares in the Jan Keeneland Sale and 2) Melnyk in the upcoming FT Sale

[BenB]

Half of the tracks needs to be closed, winter racing should be dispersed.

[wgc517]

I think the economy has a lot to do with it the smaller crops. A lot of the smaller breeders have been struggling financially over the last few years and made the decision to cut back and breed less or get out altogether. I do think though that it is the small breeder that make racing what it is. It gives hope to racing fans when they see David vs Goliath on derby day and there is usually one or two horses that came from a small farm and made their way to the big race.

While smaller crops might help the breed quality get stronger by getting rid of some of the lower quality horses, there still needs to be a balance with the small breeder, otherwise racing will fail. (I am not saying that small breeders only breed poor quality horses just that they cannot afford to go to the better stallions).

Racing needs to figure out how to protect the smaller breeders by helping to recoup some of their expenses whether that is with the claiming prices or with creating a special race for breeder/owners or some other way.

I do think the foal crop will come back when the economy does just not to the numbers it has seen in the past.

[zinn21]

The business model is broke. I had my best year ever and lost money. If we eliminated the medication protocol I would have made money. Very simply, IMHO, purses need to increase and you have to get the Vets out of the game..

[fastappy]

The business model is broke. I had my best year ever and lost money. If we eliminated the medication protocol I would have made money. Very simply, IMHO, purses need to increase and you have to get the Vets out of the game..

Zinn21, you are right about the vets & their prices are ridiculous. You have to spend hundreds on pre race medication just to compete for the paltry purses in Northern Ca.

The vets have a stranglehold on the pricing of medications which are greatly inflated. Also the racing industry allows for a wide range of pre-race medication, and backs down anytime prominent trainers challenges medication restrictions, imo.

[zinn21]

fastappy, Vets are bloodsuckers who prey on Trainers fears that they will not be able to compete if they don't give the horse AB or C.. Eliminate everything but Lasix and Bute. And take the Lasix away from the private Vet and have it administered by a Track Vet. No more bullshit B-1; Iron etc. shots period..

[Joltman]

IMHO, ..... you have to get the Vets out of the game..

Agree - 100%

[Sylvie Hebert]

Vets are pushers and only in this for the cash...None care about the live horse anymore...

[docjocoy]

Vets are pushers and only in this for the cash...None care about the live horse anymore...

zinn21 wrote:

Vets are bloodsuckers who prey on Trainers fears that they will not be able to compete if they don't give the horse AB or C

I have 4 horses in training at Golden Gate, with 2 different trainers. I haven't had this bad experience with vets at all, and I have had my share of horse illness and injury. The trainers I use do not use the same vets, each trainer uses a different vet.

I have been on the backside several times when my horses were either ill or injured, and I have met with the vets overseeing their care. Both took the time to explain to me what the issues were, what the prescribed care would be, answered my questions with great detail, and gave me options for their care. They both, independently, let me give input as to the expense and care treatments, and how I felt about it. This hasn't happened just one time, but more than once on different occasions, and with 2 vets who do not work in the same vet group.

One of the vets called me at home when the trainer had difficulty explaining a rather odd and rare injury to me. That vet stayed on the phone with me for 20 minutes explaining this injury, treatments, and prognosis for recovery.

I've never received a vet bill that I didn't understand. All items on the bill were related to treatment or injury which I had been told about beforehand. I have a very good relationship with both trainers, who are also very upfront with meds and both very conservative. One of the trainers won't give bute when one of my horse's is a little off, he wants to see how long the "offness" lasts and won't go on with her until she walks and jogs sound.

I've always been very proactive when it comes to my horses. They are, after all, mine, and I want to enjoy them and be a part of all that the business entails. If I couldn't talk to my trainers, or the vets they use, it would be less enjoyable. I make a point of getting to the backside at least once a month, and visit the farms where I board and breed at least once a month, which is not particularly easy since I live in CT and race in CA. But I wouldn't have started this business if I was only going to do it halfway.

[Pete]

Who is authorizing all of the meds that are being administered?

Regards,

Pete