Trade at Keeneland’s January Sale concluded with turnover of $25.25 million at the end of five sessions on Friday.  That was an increase of 5.7% and the average was up marginally by 1.6% to $24,731.

The encouraging signs of market stabilisation was achieved amid keen interest among buyers for quality horses and strong international participation. 

“The market continues to show positive signs of recovery from the one-two punch of the recent global financial crisis and the industry correction,” Keeneland Director Geoffrey Russell said.  “People are still very discerning but they want to buy horses – particularly young, stakes-winning mares and yearlings with good physicals.

Trade was good throughout owing to the diverse group of American and foreign buyers who attended the sale despite the wintery weather and tough travel conditions.  Foreign buyers spurred by improving economies and the desire for American bloodstock, supported the market at all levels.  Japan’s prominent Yoshida family dominated the top, purchasing three of the sale’s four highest-priced horses.

Highlighting Friday’s final session was Vinery’s three-year-old Poetfromthepulpit who was sold as a racing or broodmare prospect to agent Carlos Moore for $40,000.  The Pulpit filly was runner-up at Woodbine for Vinery and trainer Steve Asmussen in August.  She is from the stakes-placed Kivi (King of Kings) and second dam up Vilikaia (Nureyev) was runner-up in the G1 Irish 1000 Guineas.

Russell applauded the constructive measures taken by the industry to restore confidence in the market.  “Breeders have done a very good job of identifying the problem, and reducing the number of mares bred and stallion fees,” he added.  “We are just now beginning to see the effect of that adjustment, but it has helped buoy the market.”