THE season of sales at Tattersalls Cheltenham, primarily aimed at graduates of the point-to-point scene, ended on Thursday when 26 of the 30 lots on offer at the May Sale changed hands. The outcome fell well short of a year ago, reflecting the difficult season it has been for the sector.

Matt Prior, Tattersalls’ associate director said: “Noticeably, the market has stepped back a level, but, positively, nice horses are being sold.” The average price was down 19% on last year and the median price was back 14%. The sale clearance rate was never likely to match that of 12 months ago when only one lot in the catalogue was unsold.