Racing: Hogan issues warning at Karaka

Leading breeder Sir Patrick Hogan says his colleagues should think carefully about culling mares from old and under-performing families to keep their businesses commercial.

Sir Patrick was speaking at the conclusion of the premier session of the National Yearling Sales at Karaka, south Auckland, in which he topped the sale aggregates for the 26th consecutive year with more than $8 million.

"The sale went well for me, but those who didn't go so well need to ask themselves some serious questions," Sir Patrick said.

"In particular they need to look at their bloodlines.

"A number of broodmare owners are still relying on older families that were fashionable 15 to 20 years ago but which are not in fashion now."

Sir Patrick said investing in new stock each year was essential to stay in business and breeders should be prepared to risk losing the odd mare.

"If a mare's family is not performing, breeders should be prepared to cull, and cull heavily," he said.

This did not necessarily mean looking at importing mares from overseas, just that those from Australasian and foreign families needed to be up to scratch commercially, he said.

Sir Patrick's words came following a premier sale which had great strength at the top end of the market but which saw the median and average prices fall.

"From what I could see, the top end was strong at Karaka, the middle was not too bad, though I wouldn't say over-exciting, and the bottom end was terrible."

Despite solid selling at the top end of the market, many overall sales figures were down on last year's record-breaking premier sale.

The average at this year's sale was $127,072, down 7.5 per cent on last year.

The clearance rate was 81 per cent, close to last year's 82 per cent.

Many expected the average to fall given that last year's sales included 20 yearlings by boom sire Danehill and a reduced number of Zabeels.

* The select sale continues today with the festival sale on Sunday and Monday.

- NZPA