September Summary

It could hardly have come out closer, could it? No, I’m not referring to the Scottish referendum (55-45 No to secession, I mean independence), but to the Keeneland September Sale, which finished its two-week run on Sunday. It was about as much like last year– which had seen a $60-million (28%) rise from 2012–as it could have been. Specifically, the gross, after 13 days of selling, was just $500,000 less than in 2013: $279,960,500 this year, $280,491,300 last year–a decline of 2/10ths of 1% (.2%). There were 273 more yearlings (7%) catalogued this year, though as we mentioned before the sale there were 13% fewer catalogued in Book 1, and 13% more catalogued in Week 2. In the event 2,819 yearlings sold (3% more than last year) for an average of $99,312 (3% less than last year). The differences are explained by a 2.8% drop from last year’s remarkable 70.2% sold from those catalogued, to 67.4% this year. All these single-digit movements really add up to the same thing, though: stable market. That’s fine.

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