NATIONAL Hunt breeders will tackle the threat of overproduction in their sector at a couple of seminars in the new year.

The meetings have been scheduled in the wake of foal sales which saw clearance rates fall. Of the 948 National Hunt foals offered for sale at Tattersalls Ireland last month 697 (73%) were sold. At Goffs last week, where the catalogue was predominantly National Hunt foals, the clearance rate was 66%.

Goffs’ chief executive Henry Beeby, reflecting on an otherwise successful year at Kill, remarked this week: “The one note of caution is the clearance rates that have demonstrably dropped as catalogue sizes have grown this year and that should cause us all to reflect on a rising foal crop given what we learned a few short years ago. Goffs is here to serve the market and we will do everything in our power to provide a vibrant marketplace for every lot in every category, but it is certainly worth thinking hard about a market that is enjoying fierce trade for some but little interest in others. So perhaps we should pause for a moment as we consider plans for 2016 and beyond as it behoves us all to ensure we learned from the tough times we endured in 2009/10.”

Commenting on the situation, Shane O’Dwyer of the Irish Thorouhbred Breeders’ Association said: “It is important we learn from our previous experiences and our mantra is to breed quality. The market is selective and if you have not all the boxes ticked you are going to struggle. The ITBA mare owners’ committee is planning to hold a seminar prior to the breeding season which will focus on overproduction.”

A second seminar for National Hunt breeders is provisionally scheduled for Thursday, January 28th in Tattersalls Ireland.

O’Dwyer added that the ITBA has received mixed feedback from breeders following the recent sales. “There is a concern about the low clearance rate particularly in the National Hunt foal sales. Demand looks like it is exceeding supply. The ITBA will produce a report in the new year on the market trends and, more importantly, what action breeders should take going forward.”

The question of popular stallions covering large numbers of mares is sure to be among the topics under discussion. The Weatherbys Return of Mares 2015 shows that five Irish National Hunt stallions covered 300 or more mares this year compared to one in 2014.

Despite the foal sales blip, both Goffs and Tattersalls Ireland enjoyed a strong year. Henry Beeby said Goffs was “delighted to have all but matched last year’s annual turnover at just short of €110 million and consolidated the remarkable growth we have recorded over the last five years which outperforms any other European auction house by some margin.”

Tattersalls Ireland recorded their highest turnover since 2007. Managing Director Roger Casey said: “For the fourth consecutive year, Tattersalls Ireland has produced an increased set of returns, with turnover increasing by 2% in overall terms to €43,893,850, the fourth highest annual turnover on record for Tattersalls Ireland.”

Significantly Tattersalls Ireland acquired the Cheltenham and Ascot businesses from Brightwells this year.