Although the Ontario Sires Stakes program makes the province's thoroughbred industry very attractive to potential owners, results from the recently concluded Canadian Thoroughbred Horse Society Sale at Woodbine have shown that there are a few issues which are hindering
sales.
An article by Beverly Smith in The Globe and Mail cites consignor Richard Hogan as saying that Canadian buyers are at a disadvantage because they're competing against an influx of Americans at Woodbine. The report says that while American buyers can claim 100 per cent of their racing expenses and purchases against their businesses, Canadians can claim only $8,500.
“It's not a level playing field,” Hogan was quoted as saying. “But it's the people in Ontario that are playing the slots and paying the taxes. Our money is getting exported out of the country.”
The best yearlings sold at the CTHS select session on September 7, but at an open, or 'B' session on September 11, some yearlings sold for staggeringly low amounts.
According to the article, the number of breeders in Ontario has dropped by 21.7 per cent over the four-year period between 2005 and 2009.
Orangeville, Ont.-based thoroughbred breeder Michael Byrne stated that he had a broodmare band of 25 to 30 at one time, but now has a fleet of 15.
Byrne was cited as saying that he had to buy back several yearlings at the sale, and thinks he'll have to cut further. “I thought we saw the worst of it last year,” he said, referring to the 2009 sale when the gross sales were down 32.4 per cent from the previous year.
The report also explains that while breeder bonuses and owner incentives in Ontario are high, the breeding industry in Canada has to catch up to the level of horses that are now racing at Woodbine. There won't be buyers for the offspring of lesser mares and foals that can't compete at Canada's premier track.
(With files from The Globe and Mail)