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From the latest Swettenham newsletter. "Is the Breeding Industry out of sorts with some parts of the Australian economy? The car trade is an industry which in many cases parallels the thoroughbred industry. Generally we are dealing with a luxury item. Spending in tough times seems to affect this industry first and foremost.
Some tax incentives in asset purchases have obviously helped coming up to June 30th. However, some car dealers we have as clients are reporting the best May figures in 3 years and June looks like being the best June selling in 4 years.
It would be a terrible indictment on our industry if we have exacerbated the downturn by indiscriminate dropping of stallion fees on stallions that did not need to be decreased; hence causing a loss on capital invested by breeders in those stallions ....." To read the rest of this article in our latest newsletter click here .
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