The Health of the Horse Racing Industry is Good

Every year, approximately 10,000-12,000 thoroughbreds pass through U.S. auctions with a focus on yearlings and 2-year-olds in training. Every year, the health of the U.S. horse racing industry can be measured by key yearling sales results. After what transpired at Keenland Race Course around the end of September 2024, it's fair to conclude that the health of the industry has never been better.

For horseplayers, sales information is important. After all, these are the equine athletes on which horseplayers the world over will be wagering. When a sale is healthy, it offers assurances that race tracks will have plenty of horses to fill cards for the next 3-5 years.

While the Select Sartoga Yearlings sale garners a lot of attention, it's the annual Fasig-Tipton Keenland Yearlings sale that drives the industry. After all, close to 1/3 of all yearlings that are sold each year come out of this sale. The results are in for 2024, and here's a bullet-point look at key details coming out of the sale:

• The 12-session sale ran from September 9 through September 26


• A total of 2,735 horses were sold for a gross sales price of $411,749,500. That breaks the record of $405,495,700 from 2,847 horses sold. This does not include private sales which were subsequently reported after the sale ended.


• The buyback rate was 23%, which was a bit higher than the 20% buyback rate from 2023. This indicates that buyers spend more but remained selective.


• The average through-the-ring price finished at $150,548, compared to $143,111 from 2023. The median sales price was $70,000


• The sale topper was a colt by two-time Horse of the Year and classic sire Curlin for $5,000,000


• There were a total of 35 colts and fillies that brought down the hammer at over seven (7) figures


• Taylor Made Sales Agency was the leading consignor with 333 yearlings sold for gross receipts of $53,133,200.

Regarding the immense success of this sale, Keeneland Vice President of Sales Tony Lacy offered this to the press:

“I think there’s a lot of positivity in the industry," later adding, "When you look back at last year, there was a lot of stuff we were worried about. But I think with very healthy, safe racing seasons, and very positive stories – syndicates are getting very much involved, and if you look through the buying bench, there’s a lot of partnerships and groups coming together, which is allowing them to diversify their risk and investment over a number of horses. So I think there is renewed positivity .... and I think you see a lot of new people getting in the game at a significant level, and that was encouraging to us.”

Next up on the healing sales docket is the Fasig-Tipton Mid-Atlantic Sale at Timonium in Maryland. The catalog features 284 potential equine stars of the future, and buyers with money left over from Keenland should be active