Straight Up – Markets and movers

The tone of the Australian bloodstock market has changed over the past couple of years and this week’s Inglis Premier Yearling Sale provided further insight into just how much it has come back off its unprecedented pandemic highs.

The most fundamental statistic of all is the number of yearlings sold. Barring a remarkable Showcase session on Tuesday, the current Premier Sale will feature the fewest transactions at Oaklands Junction since 2010. It was a similar story when it came to the numbers of horses sold at the recent Classic Sale.

Two years ago, clearance rates were in the early 90s at most Australian yearling sales, but mid 70s now seems to be the ongoing reality.

Market sentiment has no doubt dipped but the dynamic of the yearling market has also changed. Inglis’ chief sales rival Magic Millions has more aggressively pursued market share and this year offered its biggest-ever catalogue at its January sale on the Gold Coast.

The result of getting more product to the market earlier saw Magic Millions sell 1131 yearlings, 116 more than it did last year and the most in the 35-odd-year history of that sale.

In a bearish market, filling orders for yearlings earlier makes commercial sense. It gives trainers and syndicators more time to sell. In the current environment, it gives Magic Millions a distinct advantage.

There were still plenty of positive results out of the Melbourne sale, particularly when it came to quality fillies.

Jonathan Munz stepped back into the Premier Sale spotlight for the first time in five years, while Peter Moody continued his investment. Leading trainer Ciaron Maher was less active, with just six purchases over the first two days.

Snitzel filly puts Munz back in the mix at Melbourne Premier Yearling Sale

Jonathan Munz, through his bloodstock agent Dean Hawthorne, purchased the second-most expensive filly in the history of the Inglis Melbourne Premier Sale.

The StraightBren O’Brien

Moody steps up as Maher lies low at Premier

Peter Moody made a splash at the Inglis Premier Yearling Sale in Melbourne, spending $1.405 million, including the top two priced yearlings of what was otherwise a sluggish first day of trading.

The StraightBren O’Brien

With the RV Board rebellion seemingly quelled in Victoria and a new chair appointed at Racing NSW last week, will we see racing politics in Australia take a back seat for a while?  

The short answer is no. The longer answer is in our analysis of the febrile environment in both states with agitation for a change to the status quo still strong.

A tale of two PRAs – D-Day settles little in Victoria, NSW power battles

Bren O’Brien examines where things go now in the battle for power in Victorian and NSW racing, with a sudden outbreak of peace looking highly unlikely in either state.

The StraightBren O’Brien

While fixed odds betting has fuelled much of the corporate bookmaking boom in Australian racing over the past decade, in the United States pari-mutuel betting still rules the roost.

However, a landmark decision in Colorado is set to open the floodgates for fixed odds betting on racing Stateside to flourish, and Australian racing is set to play a key role in that. 

Australian racing’s key role as Bet365 spreads fixed-odds gospel in America

Selling America on the idea of fixed-odds wagering on horse racing has been a slow burn but there are signs it could be about to take hold.

The StraightWarwick Barr

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Last Saturday’s Group 1 results highlighted the success of a couple of nicks, the genetic combination that drives so much engagement and interest in sale rings and racetracks around the world.

This week’s Run The Numbers looks at the remarkable combination of Savabeel over mares by O’Reilly, the formula behind NZ racing’s latest star Orchestral.

Run The Numbers – Savabeel over O’Reilly broodmares an unmatchable Waikato Stud formula for success

New Zealand star Orchestral is the latest Group 1 winner to emerge from the most successful genetic combination in Australasia, Savabeel over mares by O’Reilly.

The StraightBren O’Brien

Southport Tycoon put himself on the radar of stallion farms around Australasia with his win in the Australian Guineas. He too is the result of a successful nick, being the third Group 1 winner by Written Tycoon out of a mare by More Than Ready.

Southport Tycoon all business in landing Australian Guineas upset

Southport Tycoon has provided Ciaron Maher with a second win in the Australian Guineas at Flemington.

The StraightWarwick Barr

Thanks for reading The Straight.

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Regards

Bren O’Brien

Founder and Managing Editor

The Straight