Paul Spears, president and CEO of Standardbred Horse Sales, has commented on the reduction in prices that the company has seen this week during its sale in Harrisburg, Pennsylvania.

In an article today by The Evening Sun, Spears said that the reduced prices from years past are due to economic factors that have caused much turmoil in not just the North American, but the global market.

"It's all down considerably from last year," Spears was quoted as saying. "It's the perfect storm of economic conditions and currency fluctuation."

Spears also said, "When people drop 30 per cent of their net worth, it's hard to buy horses."

To read The Evening Sun article in its entirety, click here.

(With files from The Evening Sun)