It began in January and was still firing strongly in June when broodmares and their recently weaned stock were the currency. Buyers have been jumping out of trees to take a leg or four.

There is an appetite for trade. The traditional pinhooking of weanling to yearling isn’t enough for those desperate to supply an increase in demand across the market with a growing trend for off the track mares to be placed in foal and sold on before delivering the goods.

Mare to mare, weanling to weanling, some astute traders are holding stock for less than 2 months - in some cases less than a week- and making a profit.

Younger black type mares and popular sires are a recipe for big results. Conversely, poor performing producers are seen as a write off!

Where is the demand coming from? There are numerous new entrants to the Australian breeding market, some domestically but overwhelmingly international.

The Americans and Chinese in particular are positioning to have a permanent base in Australia. A robust industry appears to be shaking off any attempt to rein in the demand despite Brexit and international political and economic instability.

Magic At The Gold Coast

International buyers were out in force at the recent Magic Millions National Broodmare sale on the Gold Coast, with 12 of the top 20 sales by sale price purchased by International interests.

Five broodmares topped the $1 million, but it was Listen Here who stole the show with a record price tag of $3.4 million.

Listen Here, who was Australian Broodmare of the Year in 2014/2015, was offered for sale in foal to Medaglia d’Oro.

Her first two foals were record-breaking sprinter Deep Field and G1 Caulfield Guineas winner Shooting To Win, both now exciting young stallions.

New Zealand bloodstock agents Michael Wallace and Bruce Perry were the winning bidders on behalf of China Horse Club and Cressfield Stud.

China Horse Club were delighted with their purchase and seemed to be comfortable with the price tag, with their press release following the purchase stating ‘How do you value the equine equivalent of a Faberge Egg?’.

Bounding, a G1 winning mare and daughter of Lonhro, took the honours on the first day of the sale, selling for an impressive $1.9 million. She was purchased by America’s Stonestreet Farm.

In all 674 broodmares went under the hammer for an average price of $133,600 and clearance rate of over 83 %.

At the Magic Millions National Weanling sale clearance rates were up, reaching 88%, with an average of $59,412.

The top priced weanling was a Fastnet Rock x Temple Of Peace colt sold to James Harron Bloodstock for $400,000.

Magic Millions labelled its National Sale a ‘remarkable’ success, with 1350 lots going through the sale, and international buyers originating from 10 countries.

Victoria – Trending Well

The Great Southern sale held at Oaklands last week was up an extra $4.6 million in turnover across the four sale categories.

There is momentum in Victoria and it stems from recently announced increase in VOBIS prizemoney and the introduction of Vic Sires, a breeding incentive program funded by stallion owners jointly with Racing Victoria.

In particular, weanlings were very popular with many fresh sires represented.

As an example Unncumbered had eight sold at a median price of $42,500 - a healthy multiple of the service fee for a weanling transaction.

Analysis and Comment by Stable Financial