LEXINGTON, Ky. – Keeneland’s 13-day November breeding stock auction ended Saturday with the market between 10 and 15 percent below last year’s levels, a sign that commercial breeders, hampered by tight credit, remain hesitant to expand their holdings aggressively.
The auction closed with 2,979 horses sold for a total of $147,392,900, down 8 percent from last year’s gross for 2,779 horses. Average price declined 12 percent to $50,322, and the $17,000 median was down 15 percent. Buybacks were 23 percent, up slightly from 22 percent last season.