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The Relationship Between Sire Representation and Average Yearling Prices in the Thoroughbred Industry

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  • Poerwanto, Devie A.
  • Stowe, C. Jill

Abstract

Many Thoroughbred stallions are being bred to increasing numbers of mares. This practice raises the question of how progeny value is affected by an increased supply of foals by the same sire, which ultimately influences the sire’s value. This paper addresses that question. Three of the four models presented in our study find that the average price of a sire’s yearlings is increasing in sire representation. In addition, greater sire representation decreases the likelihood that a yearling is removed from the sale, but may increase the likelihood that it does not meet its reserve price.

Suggested Citation

  • Poerwanto, Devie A. & Stowe, C. Jill, 2010. "The Relationship Between Sire Representation and Average Yearling Prices in the Thoroughbred Industry," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 28(1), pages 1-14.
  • Handle: RePEc:ags:jloagb:131323
    DOI: 10.22004/ag.econ.131323
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    File URL: http://ageconsearch.umn.edu/record/131323/files/JAB_Spr2010__05.pdf
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    References listed on IDEAS

    as
    1. Neibergs, J. Shannon & Thalheimer, Richard, 1997. "Price Expectations and Supply Response in the Thoroughbred Yearling Market," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 29(2), pages 419-435, December.
    2. C. Jill Stowe, 2013. "Breeding to sell: a hedonic price analysis of leading Thoroughbred sire stud fees," Applied Economics, Taylor & Francis Journals, vol. 45(7), pages 877-885, March.
    3. Neibergs, J. Shannon & Thalheimer, Richard, 1997. "Price Expectations And Supply Response In The Thoroughbred Yearling Market," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 29(2), pages 1-17, December.
    4. Karungu, Peter & Reed, Michael R. & Tvedt, Douglas D., 1993. "Macroeconomic Factors And The Thoroughbred Industry," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 25(1), pages 1-9, July.
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    Cited by:

    1. Müller, Janina Katharina & Oehmen, Josephine & Janssen, Inka & Theuvsen, Ludwig, 2014. "Sportlermarkt Galopprennsport: Zucht und Besitz des Englischen Vollbluts," DARE Discussion Papers 1412, Georg-August University of Göttingen, Department of Agricultural Economics and Rural Development (DARE).
    2. Plant, Emily J. & Stowe, C. Jill, 2013. "The Price of Disclosure in the Thoroughbred Yearling Market," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 45(2), pages 1-15, May.
    3. Hansen, Charlotte R. & Stowe, C. Jill, 2018. "Determinants Of Weanling Thoroughbred Auction Prices," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 50(1), pages 48-63, February.
    4. Müller, Janina Katharina & Oehmen, Josephine & Janssen, Inka & Theuvsen, Ludwig, 2014. "Sportlermarkt Galopprennsport – Zucht und Besitz des Englischen Vollbluts," Department of Agricultural and Rural Development (DARE) Discussion Papers 260816, Georg-August-Universitaet Goettingen, Department of Agricultural Economics and Rural Development (DARE).
    5. Hansen, Charlotte & Saghaian, Sayed, 2015. "Progeny? Performance? What really matters in a stud fee," 2015 Annual Meeting, January 31-February 3, 2015, Atlanta, Georgia 196876, Southern Agricultural Economics Association.

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