AN appreciably smaller catalogue was always likely to have a beneficial effect on proceedings but by any measure the latest edition of the Tattersalls Ireland November National Hunt Sale performed very strongly.

After spanning five days in 2019, the auction took place over just three sessions as it got underway a month later than scheduled and the catalogue was around a third smaller than last year.

This in turn meant that competition for foals was as stiff as ever and the middle day of selling on Sunday led to some truly remarkable trade.

Events of recent weeks have suggested the marketplace is weathering the upheaval in the wider world quite well at the moment and neither the ongoing Covid-19 crisis nor the colossal imponderable that is Brexit had a negative impact on proceedings.

The turnover for the entire sale dropped by 17% to just over €10m, but the average was up by 15% to €19,008, the median improved from €12,000 to €13,000 and the clearance rate came in an impressive 78%.

Those figures point to good trade as did activity at the head of the foal market. The number of lots to make at least €60,000 dropped from 20 to 18 but foals making at least €50,000 improved by the same amount to 28.

The competition for the better foals looked as strong as it has ever been and it was important that this was the case as it afforded breeders an opportunity to get a reasonable return on the stock they elected to bring to the market this year.

New phenomenon

Another notable aspect of the sale and by no means a new phenomenon was how buyers have gravitated towards a select group of sires and the 26 highest priced foals were shared between just seven stallions, one of whom had just one representative in the sale.

The mares’ section of the sale was as small as it has been in many years but it was high on quality and the level of activity witnessed on Monday evening represented a hark back to the pre-recession era of 2007.

As he looked back on the sale Tattersalls Ireland CEO Matt Mitchell commented: “Words fail to credibly describe the foal market. The depth of demand vastly exceeded the most optimistic expectations.

“Equally significant has been the outstanding quality of the foals on offer this week and breeders have been handsomely rewarded which instils confidence in the future of National Hunt breeding in Ireland. This confidence was reflected in the strength and depth of the mare market.”

“I would also like to extend our thanks to HRI and ITM for their assistance in ensuring that we were able to stage another successful sale in Fairyhouse and thanks is due to both purchasers and vendors who attended the sales complex and adhered to the strict sales day protocols,” he added.