Breeding & Racing Magazine

NZB Festival Yearlings: Average Up 26.7%

Overall during yesterday's Festival Section of the NZ Bloodstock National Yearling Sale series, 209 lots sold for NZ$3,197,800 (up 4.7% on last year's 253 sold for NZ$3,054,250). The average of NZ$15,300 was up 26.7% (last year NZ$12,072) & the median of NZ$12,000 was up 41.2% (last year NZ$8,500). The clearance rate also improved markedly to 77% (last year 62%) & NZB co-managing director Petrea Vela commented: "With such tough international competition earlier in the week, the locals have made up for it with depth & strength to their activity today. Both the Select and Festival Sales have held up strongly against last year's figures & to match the record median here today shows a robust display from the domestic market. Given the economic pressures the industry faces all around the world, I think we can be very pleased with the outcome of this year's Sales Series."