The total spent at Magic Millions Tasmanian Yearling Sale dropped nearly $1.2 million, while the clearance rate also plummeted as a reckoning hit the bottom end of the yearling market at Carrick on Monday.
Investment fell significantly from both Tasmanian and interstate investors, with buyers shopping far more selectively than they have at this sale in recent years, indicated by a clearance rate of just under 70 per cent.
The overall aggregate for the sale of $2.77 million was the lowest since 2017 and was 30 per cent below last year’s mark. The sale average remained respectable at $30,750, down from last year when it was $35,905, while the median also fell back from $30,000 to $26,000
The signs were there for a tough market for Tassie vendors with pre-sale inspection numbers low ahead of the sale and most had steeled themselves for a dip in sentiment.
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