What To Look For In A Weanling-To-Yearling Pinhook, With BTE Stables’ Erin O’Keefe

On the surface, the goal of pinhooking is quite simple, to make money. Beyond that, I think everyone would agree that it's to make as much money as possible.

Each year prior to purchasing, I look at the pinhooking statistics from the previous year to see what the market trends are for the most profitable purchase point – by percentage, as well as dollars of profit.

It's great to double your money, but if you bought a horse for $5,000 and sold it for $10,000, it's unlikely you even covered your carry costs. On the opposite end of the spectrum, you'd love to make $60,000, but if you spent $400,000 and sold for $460,000 most of your “profit” is spent on commissions.

I seek to purchase in the sweet spot that's most likely to maximize actual profit. While a home run is a home run from any price point, it's key to mitigate risk as much as possible. Nobody anticipated the events of 2020, but a pragmatic approach allowed for profitable pinhooking.

To achieve these goals, certain compromises are sometimes required. If I'm looking to acquire a more physically precocious weanling, that likely means compromising on sire power. This formula can be successful, particularly when staying strict within a budget. Likewise, if I'm rounding out the group with a more commercial pedigree, that may mean compromising on something like size or vetting.

When narrowing from over 1,000 weanlings, the veterinarian you work with is key. A clear understanding of what can be helped, and what won't improve, allows for quick decisions and confident purchases.

Beyond the compromises that sometimes must be made, the main thing I look for is what I can improve.

In order to sell profitably, you must have done something to improve the “product” you're presenting. It's always a goal to have a pedigree update that improves the value, but those aspects are outside of your control as soon as the hammer falls and the horse is yours.

The physical improvement of the weanling to its yearling sale is a multifaceted process that can be influenced in many ways. At BTE Stables, we're fortunate to have resources to cater to the individual horse throughout the year it's with us prior to the yearling sale.

From a TheraPlate to a full spectrum of turnout sizes to individually-crafted feed protocols, we're able to craft care to allow for maximum improvement. From the time the weanlings set foot on the farm to the time they head to the sale, they are treated as individuals and assessed continually. The same horse will have a different outcome based on where it was raised and prepped, and that's something crucial to keep in mind during the selection process.

Erin O'Keefe is a partner in BTE Stables, in charge of farm management and bloodstock services. Originally from the suburbs of Detroit, Mich., she moved to Lexington, Ky. to attend the University of Kentucky's Equine Science and Management program. A lifelong fan of Thoroughbred racing, she immersed herself in the industry, working for many prestigious farms in the Bluegrass prior to launching BTE Stables in 2019 with partner Daniel Schmidt. Learn more about BTE Stables here.

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Respite Farm, Breeder Of Uncle Mo, Sends Athletic Weanlings To Keeneland November Sale

If you've been following the North American bloodstock world in 2020, you're probably familiar with the handiwork of Dr. Michael Cavey and Dr. Nancy Temple's Respite Farm.

The Paris, Ky., operation bred champion Uncle Mo, whose quick-starting reputation as a sire of runners has been matched by his quick-starting reputation as a sire of sires. One of those young stallions making noise with his first crop is Grade 2 winner Laoban, whose freshman season was so brilliant, he earned a call-up from New York to WinStar Farm for 2021. Like his sire, Laoban was also a Respite Farm product.

Outside of that family tree, Respite Farm bred and sold Champagne Room, the champion 2-year-old filly and Breeders' Cup Juvenile winner of 2016.

Echoes of that success reverberate through the slate of weanlings Respite Farm has to offer at this year's Keeneland November Breeding Stock Sale, through the Denali Stud consignment.

Though Cavey is a commercial breeder, and he sells his entire crop at auction as weanlings, the breeder said he does not breed or raise his young horses through the typical means for a commercial prospect. Instead, he brings them up as though he planned to race them himself. The horses have to end up in the right hands, of course, but the high-level results of the Respite program prove it works.

“I had an agent who was selling horses for us who came to our farm, looked at our young horses, and told us we were making a mistake because we were raising and prepping them like racehorses, not sale horses, and he thought we should change our program,” Cavey said. “We didn't change our program. We still try to raise racehorses.

“Our philosophy is to hopefully sell sound weanlings,” he continued. “If a pinhooker buys them, hopefully they'll make money with them, then come back and buy another one. Uncle Mo and Champagne Room are both really good examples. People bought them reasonably as weanlings, they sold them again as yearlings, and then those people sold them as 2-year-olds, and everybody made money. I'm happy about that.”

Champagne Room

The process of raising a racehorse for the sale ring begins with a carefully planned mating.

Cavey takes a great influence from the methods of John Nerud's Tartan Farms program, going so far as to buy broodmares from Nerud's dispersal that serve as the pivot points of today's Respite Farm broodmare band.

From Nerud and others, Cavey said, he learned it's okay for the two components of the mating to have flaws, as long as the partner's strengths complement them.

“[Nerud] said he looks at their hip, their hind leg, the strength of their back, the layback to their shoulder, and the quality of their head,” Cavey said. “That's pretty much the way I look at it. The motor is the hip. The strength is carried through the hip and back. They have to have a nice length of neck to provide balance, and that's what we look for.”

When it came to breeding Uncle Mo, Cavey said the outcross potential he presented was carefully crafted, and advanced through the Indian Charlie/In Excess sire line. This, in turn, has helped his appeal as a stallion in a marketplace increasingly saturated by a smaller group of bloodlines.

“We bred five generations of his family, and we avoided most of Mr. Prospector, Storm Cat, most of the more popular horses, attempting to improve his pedigree with what we call in the cattle business, hybrid vigor,” Cavey said. “His success now, I think, is based on the fact that he can be crossed back to any of those families, and he's bringing something to those families that they don't have.”

Laoban (Uncle Mo) and jockey Jose Ortiz win the Jim Dandy

Nobody knew Uncle Mo or his pedigree like Cavey did when the champion retired to Ashford Stud, so when it came time to plan the mating that would produce Laoban, the breeder knew what he needed to see in a stallion to mesh with the Speightstown mare Chattertown.

“She was very attractive, well-muscled, not overly large,” he said. “She had a good, solid female family. We knew he would put some daylight under her, because he's a big horse, but not heavy-bodied. He's a big, athletic horse. We felt Speightstown would cross well with the female family, and it worked. It doesn't always work, but here, it did.”

Using the philosophy he has developed over decades of cultivation, Cavey shared the thought process behind the matings for two of his standout Keeneland November weanlings, and how the end product matched his expectations.

Hip 943
Dk b. or br. f., Nyquist x Cayman Sunrise, by Petionville
Barn 36 & 37 – Sells Wednesday, Nov. 11
Catalog Page

“We crossed Nyquist to a family we've been working with for a few years. It produced a big, good-looking filly with a good way of going, well-balanced. We just like everything about her, and the Nyquists are obviously running.

“Cayman Sunrise was a late-developing mare herself. She was a spectacular-looking animal and had lightning speed, but unfortunately, she got hurt. Her foals that we've produced prior to this one, they needed some strength and daylight, and Nyquist brought the strength that we were looking for and put a little more leg under them. Her Bodemeister colt (Empire Power) was a stakes-placed winner at two, and he's still racing.

“We're hoping that breeding her to a precocious 2-year-old in Nyquist, who brings some strength and precocity to the pedigree, will produce a precocious 2-year-old filly that then will run on. We were just looking for something to improve the slowness of the maturity, and have her mature a little faster, and get a little more speed into her.

“This filly is very different from the other foals the mare has produced. She's just stronger. She has a little bit more size, more hip, and more strength to her back.”

Hip 1572
Gr. or ro. f., Liam's Map x Rooms, by Giant's Causeway
Barn 5 – Sells Friday, Nov. 13
Catalog Page

“This is Rooms' first foal, a really well-balanced, big, strong filly. She's really impressive.

“The mare is by Giant's Causeway, who is a leading broodmare sire. You just can't go wrong with a Giant's Causeway. The mare herself ran fourth by a neck to Champagne Room in a graded stakes race at two. She showed a great deal of ability. She was then trained by Peter Eurton, who trained Champagne Room. There's really nothing about her I don't like. She's just a good quality mare who has a good female family.

“Liam's Map is a big, stretchy, athletic horse who could really run, and the Giant's Causeways can be a little compact and small. So, I was looking for something that could put a little more size on her, and her first foal is surprisingly good-sized for a first foal.”

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Flawless, Dam Of Breeders’ Cup Classic Winner Authentic, Supplemented Into Fasig-Tipton November Sale

Flawless, the dam of Breeders' Cup Classic winner and Kentucky Derby winner Authentic, has been supplemented to Sunday's Fasig-Tipton November Sale. Cataloged as Hip 288, she will be consigned by Bridie Harrison, agent for Peter E. Blum Thoroughbreds.

A daughter of Mr. Greeley, Flawless is in foal to Into Mischief on a Feb. 18 cover carrying a full sibling to Authentic.

Authentic has captured six of eight career starts to date at two and three, including three Grade 1 wins in 2020 — the Haskell Stakes, the Kentucky Derby, and Saturday's Breeders' Cup Classic over one of the deepest fields in the history of the race. He went gate-to-wire to defeat Grade 1 winners Improbable, Global Campaign, Maximum Security, Tiz the Law, Tom's d'Etat, and Higher Power by 2 1/4 lengths in a track record time of 1:59.19 for the mile-and-a-quarter. He is a five-time graded stakes winner of $6,191,200.

Flawless hails from a deep female family of top producers, including Holiday Runner, the dam or granddam of Grade 1 winners Seventh Street, Reynaldothewizard, and American Gal.

“Flawless is an exciting late addition to our November Sale,” said Fasig-Tipton president Boyd Browning. “Authentic is just the fourth horse ever to win the Kentucky Derby and Breeders' Cup Classic in the same year, and she is carrying his full sibling. To be able to add a mare of Flawless's qualifications to our sale on the eve of the auction is unprecedented and provides buyers one of the more unique buying opportunities in recent memory.”

The Fasig-Tipton November Sale will be conducted Nov. 8 beginning at 2 p.m. in Lexington, Ky. Online bidding and phone bidding are available.

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BTE Stables Purchases Portion Of Historic Golden Chance Farm

On Wednesday, BTE Stables finalized the purchase of a portion of historic Golden Chance Farm, home of the 1970 Kentucky Derby winner Dust Commander.

The farm's proven soils have produced such notable alumni as John Henry and Run Dusty Run and features 56 stalls across two training barns, a HydroHorse aquatred, Kraft hot walker, round pen and grass gallop.

“We're excited to stake our claim in the heart of Bourbon County among such esteemed neighbors as Godolphin's Stonerside, Coolmore America's Creekview and Hill 'n' Dale at Xalapa as we start the next chapter at BTE” said founding partner Daniel Schmidt.

Founded in 2019, BTE Stables began pinhooking with the intention to grow into a top-tier operation, offering personalized care for Thoroughbreds.

BTE Stables looks forward to transitioning to the property coming off the six-figure sale of its first independent pinhook (Hip 479 in the Fasig Tipton September Select Showcase), allowing the owner-operators to live onsite and and take on additional boarding clients.

BTE Stables' Erin O'Keefe expaned on the mindset; “Our focus is providing dedicated, individualized programs for every horse in our care. Our philosophy focuses on allowing horses to grow and develop naturally, incorporating ample turnout time and socialization with customized feed regimens and individualized attention. This hands-on approach establishes a solid foundation for success in the sales ring and on the racetrack.”

BTE is currently accepting new clients and their services include layups, weanling and yearling board, select mare and foal care, sales prep, on-site farriery and bloodstock advising in addition to pinhooking partnerships.

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