Market proves anything but frosty at robust December Foal Sale
Tattersalls' four-day auction concluded with turnover of 26,255,100gns
Despite ongoing uncertainty within racing and breeding's own parish and far beyond, trade at the Tattersalls December Foal Sale proved remarkably robust in the circumstances.
The October Yearling Sale - in particular Book 2 - defied just about all market expectations, with key metrics down between 13 and 16 per cent year-on-year, when many had anticipated a fall of closer to 25 per cent.
There had, understandably, been apprehension as to how well the strength of yearling trade would be maintained into the foal sales, but given the backdrop to the four-day sale, not least the English lockdown situation and continuing travel restrictions, the results make for positive reading.
Some 791 foals were offered during the four sessions, 130 fewer (down 14 per cent) than last year, so turnover was always going to take a hit, but in the event that metric dropped by only 11 per cent to 26,255,100gns.
Average and median prices have been on a broadly upward trend since Britain and Ireland emerged from the aftermath of the 2008 financial crash, and although the economy is currently sliding into a Covid-19 induced recession, the year-on-year drops this time around are nothing like so alarming as those witnessed 12 years ago.
Indeed, the average and median prices at this year's December Foal Sale fell broadly in line with the results recorded at the corresponding fixture in 2015. That is a backward step, for sure, but far from a calamity.
That meant that just 35 fewer lots (a five per cent drop) sold than at last year's edition, when the industry and wider world was in a much happier, healthier place.
The bloodstock industry's resilience will be tested further at next week's Tattersalls December Mare Sale.
However, given that even hosting a public auction might have seemed too big an ask only recently, the fact the December Foal Sale has proved so successful suggests that next week is a challenge the industry is ready to meet head on.
More from the Tattersalls December Foal Sale:
Sioux Nation colt repays inspired 1,500gns purchase by breeder Rebecca Matthews
Dubawi's day again as Godolphin secure 700,000gns headline act
Emotional result as Phoenix Of Spain's brother brings 300,000gns at Tattersalls
Sea The Stars colt pushes the right buttons for Oneliner Stables
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