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The North American Thoroughbred breeding industry has reached a significant milestone, with the majority of foals now destined for the sales ring. Official figures reveal that 51% of U.S. foals and 52% of Canadian foals born in 2021 were offered at auction at least once.
Bill Farish of Lane's End expressed surprise at the timing: "I think it is a meaningful statistic, but we have known that we were headed here for a long time. It's a little surprising that we just got here recently."
The trend is even more pronounced in Kentucky, with 71% of 2021 and 2022 foals going through the ring.
Industry professionals cite economics as the key factor behind the shift. Headley Bell of Mill Ridge Farm noted: "The true breed-to-race people today, there are only a handful. You are seeing foundation breeding programs that are now sellers and that is because of the cost."
Doug Cauthen, vice chairman of Three Chimneys Farm's board, highlighted the substantial financial burden: "If it cost $10,000 to produce a horse and then another $10,000 to see if it is any good, then many more people would do it. But instead it can cost $50,000 at the low end and hundreds of thousands on the high end."
The trend has attracted criticism, with some blaming it for declining starts per runner. However, John Sikura of Hill 'n' Dale Farms argues: "Breeders want to sell every horse as good as they can and then they want them to go on to become successful racehorses."
A concerning side effect is the declining foal crops in regional markets. David O'Farrell of Ocala Stud expressed worry: "It's concerning for sure. I mean the industry needs a healthy Florida, healthy New York, healthy California—everywhere."
As the industry grapples with these changes, finding solutions to support regional markets remains a priority for many leaders in the breeding world.
Story first published on Bloodhorse.com