Kentucky calling for Australasian broodmare buyers

Milburn Creek owner, Muir, and his trusted farm manager, Holcombe, have made an annual sojourn to Kentucky with around 20 per cent of the current band of 30 mares owned by the Southern Highlands farm having been sourced out of the United States.

Last year's COVID-related international border closures meant Muir and Holcombe didn't get their annual trip, but they were still able to do their shopping from afar, securing stakes winner Eclair (USA) (Bernardini {USA}) for US$200,000 (AU$268,000).

With international restrictions lifting, and quarantine-free travel available for those in New South Wales and Victoria, the pair will be front and centre next week, with Fasig-Tipton's November Sale to take place on Tuesday, November 9 and the Keeneland November Breeding Stock Sale running from Wednesday, November 10 until Friday, November 19.

"We are heading there, we will try to buy, but when you look at the Australian market and the yearling sales in America being up as well, they might not be that easy to buy," Muir told TDN AusNZ.

"We missed last year because of COVID-19, but we have been there every year for a while before then.

"We’ve had a bit of luck out of there. We have got some nice yearlings to sell out of mares we have bought the last couple of years, in 2022."

Since August 1 last year, seven individual Group 1 winners in Australia have been out of American-bred mares while the percentage of stakes winners of this profile is around 6.5 per cent in the same time period.

That makes that jurisdiction the third most common source of stakes-producing broodmares in Australia, behind only the home country and New Zealand.

It is little wonder then that there is such enthusiasm to get to the Kentucky breeding sales with representatives of several studs making the trip over the weekend along with a host of agents.

Finding the good ones

Muir and Holcombe are looking to source a couple of additions their broodmare band, with fairly strict criteria.

"We are preferably looking to stakes winners, good types from good speed families," Muir said.

Holcombe said he and Muir's skills in assessing prospective purchases were complementary and they worked closely to ensure they sort through the multitude of mares on offer.

"John does the pedigrees, that is his great passion. For me, I am looking at types. When you are looking at American mares, you have to watch their feet, because you can get those small, boxy American feet," he said.

"There are quality mares you get over there, with beautiful heads, and they usually have to have a decent hind leg on them. You don't want them too tall, but you don't want those 'squatty' American mares.

"The mares we have bought in the past, that's been our rule with them. We have had really good foals out of the mares we have bought out of America over the last few years."

As an Australian buyer in an international market, there are many things to consider for Muir and Holcombe, not at least how to value a prospective purchase. Pedigree is often important in that, as is race performance.

"The first thing you do, you have to turn the pedigrees over to the Aussie pedigrees," Holcombe said.

"The Americans don’t class black type the way we do and sometimes you get a family where you might see a mare with a bit of race form, but which looks a bit light on the pedigree. As soon as you cross them over to our pedigree, the pages can really light up.

"We still use a bit of a rule which we also use over here when buying race fillies. They generally seem to bring what they won on the track. You’d look at a mare over here and she has won $300,000 and you generally say, she is going to make a bit more than that. Over there, the prizemoney is a bit different, so you have to account for that."

Judging the strength of the market

The market for broodmares in Australia hit record highs this year, with a raft of spectacular results off the back of a very strong local yearling season. The American yearling market has also rebounded strongly from an uncertain 2020 and that points to strong demand across the breeding sales.

Australian agent Craig Rounsefell of Boomer Bloodstock has been on the ground throughout the Northern Hemisphere sales season, leaving in September and featuring on the buyers' list at sales from California to Newmarket.

"I think the market will be strong, every market in the world has been strong," he told TDN AusNZ.

"I've been here for over two months now, since Keeneland September, and I've done sales in California as well as yearling and Horses In Training sales in England and every sale has been through the roof. I think the breeders in Kentucky will be cashed up and it will be extremely strong.

"But like at every sale, especially broodmare sales, there are opportunities for Australians. We are looking at something a bit different than what they are looking for in America."

Rounsefell has spent many years travelling the globe, spending a lot of time in the United States. He expects the ability to physically attend the sales to play a role in a strong Australian buying bench in Kentucky.

"I think it's vital to be there. When you are buying mares in America, it’s vital you see them because there are physical traits you need to be aware of," he said.

"There are things you want to avoid, the local knowledge and being on the ground is a must. It’s a big process to get the horses back to Australia, so you need to make sure the ones you are buying are going to have a long career breeding in Australia and are going to be suitable for the market."

Keeneland courts Aussie interest

Barry Bowditch is the representative for Keeneland in Australasia and between he and the team on the ground in Kentucky, there has been a strong interest from prospective Australian buyers.

"That's where the opportunity lies, to get up there, to get the outcross and to bring those fast, precocious, early-running mares, that have done a job in America, to Australia and they blend very well with our sires here," he said.

"There's a good number of people headed over. Those lucky enough to be flying out of New South Wales and Victoria, that are able to go, there are a few going over for the Sale."

There are plenty of people showing interest that might not be able to make the trip too. With a handful of agents and a couple of breeders being there on the ground, they will have a great opportunity to sift through a deep and diverse catalogue at Keeneland."

'Deep and diverse' is a good way to categorise a Keeneland catalogue which features 3882 lots across 10 massive sessions.

There are two Australian-bred broodmares to sell early in the Sale, G1 Jaipur S. winner Oleksandra (Animal Kingdom {USA}) and Group 2-placed Victory Kingdom (Animal Kingdom {USA}), who is a granddaughter of blue hen Leslie's Lady (USA) (Tricky Creek {USA}).

There are also a wealth of mares on offer by sires and from pedigrees which will very much resonate with Australian buyers, but Bowditch said he expects the net to be cast wide.

"The bloodlines from families with that have crossed well to our sires is something that buyers do look for, but there is no rhyme of reason to it. Any mare who could run a bit, or has got the bloodlines for it, has got every chance of being a success here in Australia," he said.

"The amount of stakes-performed mares that are maidens or on their second or third covers, that suit us is extraordinary. I can see a good number of those being targetted by Australians and hopefully being bought by Australians and coming over here."

The Fasig-Tipton November Sale is a one-day format and by its nature is more select, with a catalogue of 273 mares, fillies and weanlings. There are also lots connected to a total of 23 runners across the two days of the Breeders' Cup at Del Mar on Friday and Saturday.

Australian-based agent Andrew Williams is the Australasian representative for Fasig-Tipton and is another headed to Kentucky.

Working together

Williams will be part of the wider group of Australians and New Zealanders, who often work together to get a better understanding of what is on offer.

"We've got some good people we bounce ideas off," Holcombe said. "John (Muir) always chats to Jon Freyer (Arrowfield Bloodstock Manager). He has got a very good, deep knowledge of the market over there and we also use Andrew Williams, who is very helpful."

"That's important because when we are here at home, we know what farms we can buy off and what research to do. It’s handy over there to have a couple of different sets of eyes and ask, 'what do you reckon about this family' and we do use them."

Holcombe said the local consignors are always very welcoming and helpful as well.

"The information the farm's provide is outstanding. You can question them and they have a great depth of knowledge of what has happened in the family, where she has run, who trained her, the whole lot," he said.

"They are very impressive in the way they sell their product. That is something that Newgate and Blue Sky Bloodstock have implemented in the mare sales over here."