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NZTBA president acknowledges outstanding success of 2007 sales

Peter Francis, president of the NZ Thoroughbred Breeders' Association (NZTBA) today congratulated vendors, buyers, New Zealand Bloodstock and New Zealand Thoroughbred Marketing on the outstanding success of the 2007 National Yearling Sales at Karaka last week.

NZTBA president Peter Francis

Mr Francis says, “The strong lift in market demand for attractive, correct and well-presented horses was exactly what we hoped for when we, along with other industry groups, sought taxation changes. The legislation introduced last year by the Minister for Racing, Winston Peters, has begun to flow through to this year's returns to yearling vendors and the exciting thought is that the full effects of those and the recently announced co-mingling initiatives can only further stimulate local demand."

Also helping to gather the strongest buying bench seen at Karaka for a long time was the outstanding results New Zealand-bred horses have achieved in our export markets, particularly in Australia and Hong Kong.

Over the three sales sessions, 1023 yearlings sold for a record average price of $79,546, an increase of 26% on last year's figure. The overall clearance rate of 83% also set a new record, just exceeding the record of 82% set in 2004. The combined sales total of $81.3 million is the highest aggregate in the history of the Series.

"The strength of the Select Sale was an especially welcome feature of the week's selling, and although the Festival Sale was somewhat patchier, a new record median was set and vendors met the market to post a very good clearance rate of 81%. We now look forward to seeing the market upswing continue in the Carnival Sale in March."

Mr Francis adds, "Early feedback from vendors indicates that improved sale receipts will allow them to meet their current financial commitments and re-invest in their businesses and breeding activities. That's good news for the entire industry, including domestic racing.

"Purchasing trends at these sales also confirmed that physical type is paramount. Breeders need to be very aware of buyers' priorities, which include excellent confirmation, athleticism and soundness of limb and temperament.

"I congratulate everyone involved in the rearing, preparation and presentation of yearlings offered last week on the first-class standard of their work. We can be confident that the yearling "Class of 2007" includes many future racing stars.

The NZTBA also congratulates New Zealand Bloodstock and their staff on successfully conducting the record-breaking National Yearling Sales Series. NZB's efforts to assemble the broad-range of local and overseas buyers together with the changes they made to the sales series format were well and truly vindicated in posting the most successful sales series run under NZB ownership.

"I also acknowledge the value of New Zealand Thoroughbred Marketing's year-round work, distributing news and statistics about Kiwi-breds all around the world, advertising the (NZ) brand in key markets and hosting buyers. This perfectly complements New Zealand Bloodstock's promotion of their sales, and the efforts of the NZTBA in areas such as taxation and education."

Mr Francis offered special congratulations to Cambridge Stud which headed the Premier Sale vendors by aggregate sales for the 26th consecutive year, and presented the sale-topping Zabeel-Sunline colt on behalf of his owners Stephen & Trevor McKee, and Thayne Green.



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