CNN reports that the thoroughbred horse industry is finally seeing the downturn from the poor economy of the past couple of years.  The once untouchable wealthiest of the wealthy aren’t bidding as much money to buy race horses as in years past.  The article says that auctions brought a whopping 27% less in 2009 than in previous years.  They attribute this to not only the economy but an overproduction of thoroughbreds.  Oh great.  A glut of horses.  Just what we need to hear in the animal rescue world.  The ARL recently brought in several horses that could no longer be cared for properly by their owner.  This situation is not encouraging – if the very rich aren’t buying horses, then who can afford them? 

And, if you’ve read our blogs and newsletters, you know that more and more surplus U.S. horses are being shipped to Canadian and Mexican slaughterhouses.  Will these surplus racehorses face this fate?  You bet.  I hope that the decline in revenues from horse racing encourages the breeders to not breed so many horses.  But that doesn’t sound like it’s going to happen as more and more foreign countries get into the business. 

Read more in the article:  http://www.cnn.com/2010/LIVING/01/16/horse.auction/index.html?hpt=Sbin