Australian breeders’ focus switches to American sales
Big southern hemisphere contingent en route to Fasig-Tipton and Keeneland breeding stock sales
It may be the biggest week on the Australian racing calendar, but a contingent of breeders, bloodstock agents and industry professionals are on their way to the US for America’s Breeders’ Cup meeting and broodmare sales in Kentucky.
Representatives from major Australian nurseries Arrowfield, Coolmore, Milburn Creek and Silverdale Farm, as well as agents including Sheamus Mills, Craig Rounsefell, Will Johnson, Jim Clarke, Dave Mee and Mitchell Bloodstock will also be on the ground at the Fasig-Tipton and Keeneland sales.
Newgate Farm’s Henry Field, whose Hunter Valley-based stud is backed by significant US investors including S F Bloodstock, will also have a major presence at the Fasig-Tipton and Keeneland sales as he has for a number of years.
The Keeneland November Breeding Stock Sale will run from November 7 to 16, which follows the Breeders’ Cup this Friday and Saturday, while Sunday’s Fasig-Tipton mares’ sale precedes its rival in Lexington.
Barry Bowditch, the Magic Millions managing director and Keeneland’s Australian representative, said the US market was likely to be extremely strong, mirroring what has occurred at other yearling and breeding stock sales in both hemispheres in 2022.
Keeneland will offer 3,704 lots across ten selling sessions while Fasig-Tipton has a catalogue of 318 lots in a sale run more in the style of the Inglis Chairman’s offering.
“What a market like Keeneland does is give the market globally, the deepest and most diverse mares that any one sale can give,” Bowditch said.
“It’s a very young catalogue and there’s a lot of good stakes-performed mares or mares on their first cover who really suit the Australian market. It’s great that we can take a lot of Australians across this year.
“Obviously, it’s the perfect year to go; having a Keeneland Breeders Cup, and give them a great time in Kentucky.”
Fasig-Tipton’s Australian representative Andrew Williams suggested the dominance of Yuesheng Zhang’s Yulong Stud at the Australian breeding stock sales, in which the Victorian farm purchased five mares at Inglis’ Chairman’s Sale and a staggering 63 lots at the Magic Millions National Broodmare Sale, has also forced Australian breeders to look further afield in search of mares.
“It’s so important these outcross mares for the market down here. They’re big, strong types with plenty of substance, they’re fast compared to the lighter–framed European mares,” Williams said yesterday.
“They suit these stallions, Snitzel, the Russian Revolutions, the Not A Single Doubt line, and that’s probably why it’s worked for Wild Ruler.
“You’ve got a chance of breeding a Slipper winner out of a fast American mare with size and substance, compared to buying a middle-distance European mare.”
The Australian dollar is buying 64 US cents compared to 75 US cents 12 months ago, a factor making US mares more expensive for southern hemisphere breeders.
“Obviously it’s got to be some sort of factor, but currency globally, whether it is the Europeans going to America, they’re going to be just as hesitant as the Australians,” Bowditch said.
“Not every mare in that market suits America and that’s where we can have the upper hand. We’ve got the most viable industry from a racing perspective – prize-money is off its head – and our yearling market has been incredible and there’s plenty of money in breeders’ pockets.
“So, I think they can go over there with confidence that it is going to continue here in Australia. The currency (exchange rate) is not ideal, but in saying that, I’ve seen it much worse and I think, in comparison to other parts of the world, we’re still going to be able to compete.”
Williams believes the upward US market could provide Australian breeders the option to trade back into the American market if they choose to.
“It looked like one of the strongest sales ever, the Keeneland September (Yearling Sale), and you’ve got to be thinking that all those American breeders are going to be reinvesting with their pockets full and they’re trading back into that same market,” he said.
“It’ll be interesting to see how the Australians play it, whether they buy mares in foal to trade back into the US market or they buy fillies and mares off the track.
“Everyone will have their own strategy and work out a play but hopefully we get a few Australian ones bought across (the two sales) and particularly at Fasig.”
One of the pin-up mares for Fasig-Tipton from an Australian perspective is Con Te Partiro (Scat Daddy), a US$575,000 purchase from the 2018 sale by S F Bloodstock and Newgate Farm, before being sent to Australia to race, winning the Coolmore Classic (Gr 1, 1500m) and Queen Of The Turf Stakes (Gr 1, 1600m) in 2020 for trainers Gai Waterhouse and Adrian Bott.
“A guy like Henry Field has done particularly well at the Fasig sale, with the feats of Con Te Partiro who was bought out there,” Williams said.
“She went on and won two Group 1s in Australia and is probably one of the leading flag–bearers for Fasig as a trade prospect.”
Con Te Partiro was resold at the 2020 Keeneland November sale for US$1.6 million to David Redvers Bloodstock.
Bowditch was on his way to America at the weekend, while Williams is set to fly out on Wednesday.
“You’ve got the Breeders’ Cup Friday and Saturday, the Fasig sale on the Sunday and Keeneland starts on Monday, so it’s all go,” Williams said.
“There’s a parade at Coolmore’s Ashford Stud on Friday morning with a few breeders and. there’s a Fasig dinner on Thursday night. It’s going to be a busy few days.”