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40.
Keeneland
Drop July Sale For 2003
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15/01/2003 |
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Following
much speculation Keeneland has decided to drop its prestigious July Selected
Yearling Sale. However it will only be for this year and Keeneland expects to
resume the sale, which had been the company’s flagship for many years, in
2004.
Keeneland officials cited the devastating effects of Mare Reproductive Loss
Syndrome (MRLS) on Kentucky’s 2002 foal crop, for the decision to take a
one-year hiatus.
In a prepared statement officials said that the plan is to resume the July Sale
in 2004 with a revised format. This year’s Selected Sale will be incorporated
into the first two days—the “selected sessions”—of Keeneland’s
September Yearling Sale.
When MRLS attacked Kentucky’s breeding industry in the spring of 2001,
approximately 30 percent of the pregnant mares spontaneously aborted. A
significant majority of the horses that were aborted were “early” foals
(ones whose dam was bred early in the breeding season in hopes of giving their
offspring a physical advantage over foals born later in the year). Typically,
early foals comprise the majority of Keeneland’s July catalog.
“The decision was made only after extensive discussions with our consignors
and buyers,” said Keeneland President and CEO Nick Nicholson. “Because of
MRLS, this year’s yearling crop is fewer in number and the majority of this
year’s crop will not be ready for auction by July. Most of the horses will
need until September to physically develop.”
Many of the July Sale’s top consignors and buyers have expressed their support
for Keeneland’s decision to place this year’s July Sale on hiatus.
“Eaton Sales is committed to revitalizing and growing the Keeneland July
Sale,” said Reiley McDonald, co-owner of Eaton Sales with Tom VanMeter.
“Unfortunately, the number of early, mature, well-developed yearlings
historically suited to this market is down 70-80 percent this year. There just
is not the supply for it to work, but we will back in strength in 2004.”
Mark Taylor, vice president for public auctions for his family’s Taylor Made
Farm, said: “MRLS robbed our industry of many of the early foals of 2002—the
ones that usually are mature enough to sell in July. We are committed to
Keeneland’s July Sale and its resurgence in 2004, but agree that it should be
cancelled this year.”
“I think the move from July to September this year is a great idea,” said
Fred Seitz of Brookdale Farm. “Despite heroic efforts on the part of Keeneland
and its consignors to preserve the July format, MRLS has caused a shortage of
early yearlings for 2003, which accentuates the need for this intelligent
move.”
“We completely support Keeneland’s decision,” said Bill Farish of Lane’s
End Farm. “Given the much smaller percentage of early foals last year, the
pool of July Sale-type yearlings is greatly diminished. We look forward to
exploring the future of the July Sale with the Keeneland staff as the number of
early foals rebounds.”
Keeneland officials plan to spend a great deal of time during the next year
meeting with consignors and buyers about what they would like to see in a
restructured July Sale.
“Based on our recent conversations with buyers and sellers, the July Sale
continues to have a great deal of support,” said Geoffrey Russell,
Keeneland’s director of sales. “Everyone is looking at this as an
opportunity to revamp the sale so that we can give our customers and the
industry what they want.”
This year, the September Yearling Sale will have two closing dates—an early
closing date of March 1 and a traditional closing date of May. 1. The early
closing date is for yearlings typically nominated for the July Sale. Consignors
will be notified by May 1 if their horse is accepted for the selected session.
May 1 also is the final closing date of the September Sale.
Keeneland officials also announced today that the October Yearling Sale will not
be held this year.
By: Mark Smith - Wednesday, 15 January 2003
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