Redoute's Choice service fee cut by 40 per cent
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April 09, 2009 12:00am
THE cost of a service fee to leading stallion Redoute's Choice will drop by 40 per cent for the 2009 season to $198,000 including GST.
Arrowfield Stud proprietor John Messara said it was important for the farm as an industry leader to contribute to the sustainability of the Australian breeding industry.
The three leading sires at Arrowfield - Redoute's Choice, Flying Spur and Hussonet - have had their fees reduced by between 40 and 50 per cent.
The fees of stallions in the Arrowfield roster inclusive of GST will be: Charge Forward $27,500 (up 11 per cent); Danzero $22,000 (down 20 per cent); Flying Spur $82,500 (down 40 per cent); Hussonet $71,500 (down 48 per cent); Not A Single Doubt $13,750 (unchanged); Redoute's Choice $198,000 (down 40 per cent); Snitzel $22,000 (down 33 per cent); Starcraft $22,000 (down 33 per cent).
"We have elected to fully recognise the current market situation, occasioned by the global financial crisis, and to adjust our fees to levels which will ensure breeders can achieve profitable outcomes by using Arrowfield's first-class stallion line-up," Messara said.
"While the Easter yearling average was down about a third on the 2008 figure, it should be remembered that the service fees at the time of conception of these yearlings made a lot of the Easter trade quite profitable.
"The other factor that breeders should consider is that the 2009 conceptions will not be sold until the 2012 yearling sales, by which time it is hoped the economy will have recovered."
Redoute's Choice is currently the leading sire in the country both on the Sires' List by earnings, stakeswinners, stakes wins and average earnings index.
He had 10 of the top 15 prices achieved at the Inglis Easter Sale and seven of the top 15 prices at the Magic Millions Premier Yearling Sale.
Still there's a nice margin left.
