Rowe On Monday – Resolute recast, Baaeed intrigue, Metallica expedites ready to run, and a big week for Ghaiyyath

US foal market ‘off its head’ but no sign of Resolute Racing

Demand for weanlings in the US over the past week has been red-hot as pinhookers, traders, and end-users look to cash in on the huge uplift in spending at the American yearling sales.

The uptick began at Fasig-Tipton’s Saratoga in August, with a record gross of US$100.7 million, and continued at Keeneland’s September Yearling Sale, which turned over US$531 million, also a new benchmark for the American auction house.

More than US$84 million has been spent on foals at Keeneland at an average of $136,757, with one industry figure describing the market as “off its head”.

As written about in this column, US President Donald Trump’s One Big Beautiful Bill provided yearling buyers with an immediate 100 per cent tax write-off, an incentive that has seen regular money (think Mike Repole) and new money enter the US bloodstock market in recent months.

But what also had North American bloodstock industry participants speaking in hushed tones was the apparent absence of Resolute Racing’s John Stewart at Fasig-Tipton’s sales grounds and across town at Keeneland’s complex in Lexington, Kentucky.

Stewart sold reigning US Broodmare of the Year Puca for US$5 million at the Fasig-Tipton Sale, two years after buying her for US$2.9 million at Keeneland.

The dam of three Grade 1-winning colts in succession, Puca was bought by Yulong’s Raging Torrent Syndicate carrying a pregnancy to Into Mischief for the large sum, the third highest-priced mare of the Fasig-Tipton sale.

Stewart’s non-appearance coincides with the announcement last week by Resolute Racing that his wife Chelsey would be the racing and breeding operation’s chief executive as he focuses on his venture capital firm.

“My primary focus has always been on managing MiddleGround Capital and the investments managed by its various funds,” Stewart said in a statement.

“This change in roles at Resolute is meant to clarify the role Chelsey has served since inception. My role is limited to supporting and advising her and the team on strategic direction and decisions.”

That said, Stewart was at Del Mar the previous week, where he watched Goliath, a Group 1 winner in Germany in September, finish out of a place in the Breeders’ Cup Turf, which was won by the Willie Mullins-trained Ethical Diamond.

He also had a recent recruit addition, Village Voice, a Grade 3 winner at Aqueduct at her first start for Stewart and trainer Chad Brown, run in the Grade 1 Breeders’ Cup Filly and Mare Turf at Del Mar.

Stewart was due to attend this year’s Magic Millions Yearling Sale on the Gold Coast, but the relative thoroughbred industry newcomer was forced to return to the United States at the last minute due to a family emergency.

Resolute Racing teamed up with Tony and Calvin McEvoy, last week’s Melbourne Cup-winning trainers, to buy a Frankel colt out of Canadian Grade 3 winner Heavenly Curlin for $1 million at the Inglis Premier sale last March and two fillies at the Inglis Easter sale.

One of those, a Too Darn Hot half-sister to I Am Me, was bought in partnership with Dynamic Syndications.

Baaeed fillies to hit the Gold Coast

The catalogue for January’s Magic Millions sale is out and it’ll take some time to get through the pedigrees of the more than 1200 yearlings to go under the hammer at the Gold Coast.

But scanning it on Sunday, the two Baaeed fillies in the Yulong draft grabbed our attention.

Zhang Yuesheng’s global approach has enabled him to target the best stallions (and mares) from around the world, and the two fillies by Baaeed bred to southern hemisphere time are sure to create interest.

The Shadwell-raced Baaeed, a son of Sea The Stars, was a champion three-year-old miler in Europe who won six Group 1s and 10 races in total before being retired to stud.

Lot 134 is out of Galileo mare Bureaucracy, who is from the family of Group 3 winner Beauty Bright, while Lot 404 is out of Fastnet Rock mare Jessica Rocks from the family of stallion Havana Gold.

Nothing Else Matters?

Those regulars among the bloodstock fraternity who blank out the calendar for New Zealand Cup week at Riccarton (and Addington trots) were a little perturbed that their annual pilgrimage to Christchurch has been diverted by the NZB Ready to Run Sale.

But the clash between the South Island’s week-long carnival and the southern hemisphere’s largest two-year-old sale was unavoidable, we’re told.

And it’s because Metallica is playing in Auckland next week, which made hotels almost impossible to get for NZB to accommodate its international buying bench and the cost of doing so was prohibitive.

Normal scheduling will return in 2026.

Ghaiyyath coming back?

Speaking of overseas, will Darley shuttle Ghaiyyath again next year?

The sire son of Dubawi, a four-time Group 1 winner and Cartier Horse of the Year, was given a year off southern hemisphere duties at Darley’s Northwood Park in 2025 in what would have been his fifth year at the Victorian stallion station.

Ghaiyyath has four first-crop stakes winners, all achieving black type success in the first three or so months of their three-year-old season.

Victoria Derby winner Observer, who most likely would have won the Caulfield Guineas with a clear passage, leads the way but Ghaiyyath also had Different Gravy win the TAB Trophy, a Listed race over 1800m at Flemington on Cup day.

“What a wonderful exponent for Ghaiyyath, who we hope can develop into the sort of Classic sire that this country needs … and Observer looks capable of being just that, competing at a mile and up to a mile-and-a-half,” Godolphin Australia’s racing and bloodstock manager Jason Walsh told the Straight Talk podcast.

“Heading to the track with the pedigree that Observer had behind him, it gave some real confidence about his starting ability. And I do think he’s still working it all out.

“When he develops and matures, I’ve got no doubt he’ll be very capable at everything from a mile to a mile-and-a-half and in the hands of Ciaron (Maher), I’m excited about what that might look like for next year.”

Adding to the first crop of deeds of Ghaiyyath, Yum won the Listed Jim Maloney while Freedom Flame won the SAJC Hill Smith Stakes in Adelaide. 

Romantic Encounter also finished runner-up in the Bill Stutt Stakes, suggesting that Ghaiyyath is providing breeders with an opportunity to produce high-quality miler to middle-distance horses.

“(Ghaiyyath) had a busy time in Ireland in the early part of 2025 and having shuttled for those consecutive seasons, a decision was taken just to give him a break,” Walsh said. 

“At Godolphin, we’ve got a lot of foals by him  this season, so we’re well exposed to him and … it’s clear that they’re really hitting their straps now into their Classic season and at Classic trips.

“He’s the kind of stallion that might produce you a Guineas prospect at three and a cups horse (as they get older). And that’d be hugely exciting for this country.”

A Banner quinella for McGrath

We wonder how agent Shane McGrath is feeling?

The Irishman bought the quinella of Saturday’s Inglis Banner at Flemington, with the winner Calamari Ring purchased as a weanling for owner Leo To and the runner-up Streisand from the Premier Yearling Sale for trainer Clinton McDonald.

Streisand, however, is part-owned by the McGraths and the Magnus filly has been narrowly denied in two Listed races this spring and the defeat must sting a touch even though the two-year-old is worth more than her $100,000 yearling price.

To, who raced the Gary Portelli-trained Group 1 winner Kimochi until he sold her to Yulong for $2.7 million, was the beneficiary of another weanling sale graduate, the Two Bays Farm-bred Calamari Ring.

“She had beautiful size, she was very strong and very correct – just the best horse in the sale,” To said. 

“Shane has a very good eye, and he picked her for me.”