by John P. Sparkman

The Thoroughbred racing industry has not had a lot of good news lately, and that negative background noise may well have an impact on the beginning of the yearling sales season Monday as the 2008 Fasig-Tipton Kentucky July sale of selected yearlings begins in Lexington.

The more profitable year that pinhookers enjoyed in 2008 than in '07 has done little to mitigate the negative effects of the shaky international economy and the string of negative press clippings initiated by the breakdown of Eight Belles in the Kentucky Derby Presented by Yum! Brands (G1).

“No one is jumping off a cliff in Ocala,” said pinhooker Nick de Meric. “I think people will be more circumspect and shop very carefully, but those of us who have been in it a long time know you have to do that anyway. We'll adjust our buying a little bit, anticipating a weaker two-year-old market next year, but we'll buy horses. You can't have a store with no apples.”

Even with the prevailing negative attitude, the sales barns at Fasig-Tipton's Newtown Paddocks facility have been busy in the four days leading up to the sale with the usual international cast of characters gathered for their first public look at the yearling crop of 2008.

“Everybody's expectations have been tempered by the mood of the international economy,” said Terrence R.P. Collier, the company's director of marketing. “I think that's healthy. It's usually only when expectations and reality are not aligned that we have a bad sale.

“I think that the sale should hold relatively steady, considering the situation. It's been very predictable looking at these horses during the four days of inspections. The quality has held up just as we expected it to. We're ready for some good, solid trade.”

Last year, 354 of 520 horses offered were sold for $36,441,000, up 2.4% from the 2006 sale, and an average of $102,941, down 11.2%. This year, the number of horses cataloged declined from 582 to 568.

In a sale based far more on conformation than pedigree, sale toppers are often unpredictable, but colts by Johannesburg, Pulpit, Roman Ruler, and Malibu Moon, and fillies by Mr. Greeley and Tiznow appear to have stirred excitement in the hearts—and hopefully pocketbooks—of buyers.

The sale begins today at 10 a.m. EDT with the New Sire Showcase, which is restricted to progeny of first- and second-crop sires. The showcase extends through the first 37 horses on Tuesday before the offspring of older, more proven stallions make their way to the sales ring.

John P. Sparkman is bloodstock editor of Thoroughbred Times