Lynam told members of the Irish Thoroughbred Breeders’ Association (ITBA) last week that 60% of mares that bred foals in the catalogue for last year’s showcase November sale at Goffs, Co Kildare, should be taken out of production. This number should rise to 80% for those mares who had bred the foals on the first two days of the sale as they are usually of inferior quality compared with the following three days.
Lynam, who has been a consultant to several top-class studs, believes 750 broodmares will have to be taken out of production. Based on the 70% rule this would have the desired effect of a 500 reduction in the foal count.
The number of mares has increased by 20% over the past five years to almost 19,000, producing a glut of foals, many of which fail to sell at auction.
“We are an exporting nation and some of our output doesn’t even meet the criteria for even lesser racing nations such as Turkey. When it comes to horses it appears too many good business people leave their acumen outside the door,” he said.
The comments echo sentiments expressed recently by Pierce Molony, the senior steward of the Irish Turf Club, who said many breeders were engaging in “commercial suicide”.
Advertisement
“Their actions are having catastrophic consequences on the very sport of racing, without which they would not have an industry,” he said.
Duncan Alexander, the head of marketing at Goffs, agreed there was overproduction of foals but he would need more information before backing Lynam’s proposal.
“John is a very good economist but I would love to know what he bases his facts on. There have been a lot of breeders disgruntled by these comments; they recognise there is a problem but there are many reasons why horses don’t sell, including bids not reaching the reserve price,” he said.
Although the blame for over-production has been pinned on stallion owners who are only too eager to maximise profits by accepting all-comers, Lynam said broodmare breeders had to accept greater responsibility.
“Covering mares with stallions that are far too good for them has become a fashionable thing to do and as a result breeders are incurring losses because they will never get the money back,” he said.
Advertisement
“Stallion masters may be worried about losing the tax exemption and the spread of equine diseases but the biggest worry they have is an outbreak of commonsense among breeders.”