This Side Up: Billion Dollar Babies are Here

The transatlantic yearling market has reached a new high for the first time. The value of the trade in North America and Europe has advanced 6.8% on the 2021 tally of $937,533,161. However, the European market shed 2.4% this year, down to $391,241,817 from $400,981,400 in 2021. The European turnover of 2020 was $328,000, but the turnover this years was virtually identical to 2019. In October 2014, when £1 would get you $1.59, an average Book I yearlings at Tattersalls realized $393,893.

There is limited crossover between Keeneland and the same ring back in September. The foal crop for 2023 is again down. There is no corresponding rise in supply. Thoroughbred population has stagnated since the export market failed. The legal wagering menu is expanding and our own demographic is ageing. European Th thoroughbreds are more successful than American ones. They are better suited to the modern breeding environment. If they are wrong, it's an opportunity for the market to cash in. It's not a problem. if they're right, then people will cash.