This week’s TBWA Thoroughbred Forum at the Sebel Mandurah Hotel addressed several challenges confronting the local industry set against consistent commercial growth in the last decade at Perth Magic Millions Yearling Sales.

TBWA President Troy van Heemst focused on (1) Workforce Education & Training and (2) Industry under threat from outdated Government Policy.

“Our workforce warrants better training.  Benefits from a highly skilled workforce are deep and multi-faceted.  Primarily, outcomes from a safer workplace result include higher productivity, lower insurance premiums and improved retention of skilled people.

“We are achieving progress in this space but we need industry engagement to make further advancements.

“The State Government is reviewing the governance and sustainability of the WA Racing and Breeding Industry and we have grave concerns due to the perceived lack of vigour being displayed during this review process,” van Heemst told TBWA Members prior to the Thoroughbred Forum.

“There is cause for concern that our government does not value the Breeding industry, are content to see the Racing Industry decline, and that this review has a predetermined outcome.  Lobbying to the Minister on your behalf is made stronger with industry support and engagement.

“Importantly, there is no one else that will champion our industry for us.  We need to stand together and show that we care.”

Magic Millions Managing Director Barry Bowditch delivered a positive presentation reflecting the steady increases in both turnover and averages at the Perth Magic Millions.  “Year-to-year fluctuations are to be expected but the overall trend demonstrates the WA market has strengthened in depth, confidence and buyer participation,” Bowditch said.

“Over the past five years, the sale has also maintained a strong average clearance rate of 87% highlighting consistent demand and effective alignment between catalogue composition and buyer requirements across varying market conditions.”

The Top 6 stallions represented at the Perth Yearling Sale over the past five years have all been WA-based stallions and, collectively, they have accounted for 31% of all lots offered and 36% of revenue.

The increasing prevalence of online sales has not diminished demand for the Perth Yearling Sale.  In contrast to a 16% decline across other state yearling sales, Perth recorded growth of 13% highlighting the ongoing confidence buyers have in the product on offer.

“Understanding where your horse sits in the market is increasingly important,” Bowditch added.  “Success at sale is no longer passive – it requires preparation, positioning and awareness of demand

“Breeders who align stock with buyer expectations are achieving stronger outcomes at a time when the market is more selective, making quality and relevance in the product essential.”

The resources link on our website has all the details of the Barry Bowditch presentation here