MOST years, you could judge how pinhookers fared just by reading the overall vibe and feedback at the yearling sales, but there have been mixed messages over the last few months.

Even when a yearling sale’s statistics have been positive, many consignors – both breeders and pinhookers - have described trade as tough, and while that may seem like a contradiction in a way, it’s worth remembering how the foal prices have grown over the last few years.