A number of farm owners getting out the business… BREEDING INDUSTRY FACING A CRISIS!

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A number of farm owners in the breeding industry are getting out the busi­ness because of poor Year­ling sales.

A few of them have al­ready closed down their farms.
The Poon Tip Stud Farm is reportedly one of the most successful farms, producing some quality horses but few are being sold to buyers.
The annual Yearling sale staged by the Stud Farm Association of Trinidad and Tobago (SFA) keeps declin­ing over the past three years as owners prefer to invest in the Jamaican-bred horses.
Owners were discour­aged from buying Yearlings this year because the Arima Race Club (ARC) report­edly owes them close to $7 million in prize monies. The ARC is now paying owners for horses that won in Feb­ruary this year.
This year only 18 Year­lings passed through the sales ring but only nine were sold, some of them were bought back by their farm owners. Only one horse was able to fetch $40,000, the others went for between $5,000 and $10,000.
Owner of JMH Stud Farm Charles James said he is considering getting out the breeding business since owners are not buying horses because they cannot get their prize money when their horses win.
He said it is the trainers who are making the money since they collect their com­missions from the wins and placings of horses. Trainers of horses that place, second, third and fourth are paid their commissions but own­ers of winners have to wait because of the cash-flow problem with the ARC.
The ARC is required to pay owners after winners are declared dope free.
He said an owner has to pay trainers for the upkeep of their horses, entry fees, vet­erinarian bills, “Grassman”, farrier, which amounts to over $4,000 a month.
James noted that some owners have been racing their horses for more than six months without even getting a cheque for oats money.
He said the delay in payment of stakes money has contributed to the prob­lem for the breeders.
This year JMH Stud Farm had no Yearlings for the SFA sale. There were just four Yearlings which were sold privately.
JMH Stud Farm has two Stallions and five brood­mares.