INQUIRY Presented By Iowa Thoroughbred Breeders And Owners Association: Back To School

Whether it's backed by a diploma or a lifetime of experience, just about anyone in the horse racing industry could profess themselves to be an expert in something.

In this edition of INQUIRY, we ask the folks on the sales grounds to choose how they'd share that expertise with the world by asking the question, “If you taught a college course about horse racing, what would it be called?”

Catherine Parke – Valkyre Stud

“'Training A Racehorse, And Its Care.”

 

 

 

 

Tommy Eastham – Legacy Bloodstock

“It would be called 'Nonverbal Communication,' or 'Being Sensitive.' Communicating with this beast (the horse) without being able to go up and talk to them. Probably the biggest thing I see people miss with their horse care is it's not a 'to do' list. It's more of an art. Before you make a plan, you need to take a look at that horse, figure out its emotional state, try to figure out what's bothering it. The best way is to communicate with it.”

 

 

Conrad Bandoroff – Denali Stud

“'Horse Racing Economics.' You could look at how the market for horses mirrors the stock market. You could do some analytical data into economic trends in the horse business, and just showcase how large of an industry it is, and the size and scope of it.”

 

 

 

Katelyn Jackson – Elite Sales

“'Save Ground: How To Pick Your Spot.”'

 

 

 

 

 

Alfred Nuckols, Jr. – Hurstland Farm

“'Risk and Reward.' The class would be about trying to evaluate pedigrees. I like proven horses, but the risk market and reward market seem to be with a lot of these early horses, so I guess what you need to do is teach about these nice horses with pedigrees coming off the racetrack that everyone wants to breed to the first year.”

 

 

 

Bob Feld – Bobfeld Bloodstock

“It would be 'Handicapping 101.' For anyone in this business, it's the gambling and action that really drives the whole machinery.”

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Grade 1 Winner Vekoma Retired To Spendthrift Farm For 2021

Multiple Grade 1-winning millionaire Vekoma has been retired from racing and arrived at B. Wayne Hughes' Spendthrift Farm, where the 4-year-old son of Candy Ride will take up stud duty in 2021. His fee has been set at $20,000 S&N.

This year's impressive winner of the Grade 1 Carter Handicap and G1 Met Mile, Vekoma was scratched as the morning-line favorite in Saturday's Breeders' Cup Sprint after spiking a fever upon arrival at Keeneland. He will be given a few days to settle in at Spendthrift before being available for inspection.

“Precocious, brilliantly fast, carried his speed around two turns – you name it, Vekoma could do it. On top of that, he is a Grade 1 winner by a Grade 1 winner and out of a Grade 1 winner, so he's truly a rare package in the breeding world. You won't find a more brilliant or better-bred son of Candy Ride. We are extremely excited about his future at stud and look forward to showing him off to breeders after he's been allowed a few days to settle in here,” said Ned Toffey, Spendthrift general manager. “Any time a horse as good and as deserving as Vekoma does not get the opportunity to run in the Breeders' Cup, you are obviously disappointed for the horse and for the connections. There's so much hard work that gets put in. Ultimately, you have to credit George Weaver and his team for having an incredible season and always doing right by Vekoma through some hard luck at the end.”

Trained by George Weaver for owners R. A. Hill Stable and Gatsas Stables, Vekoma was one of the top racehorses in his crop, capturing graded stakes wins at two, three and four. After breaking his maiden at first asking in 1:08 4/5 at Belmont, the talented chestnut stretched out to win the one-mile G3 Nashua Stakes at Aqueduct to complete an undefeated juvenile campaign.

At three, Vekoma jumped onto the Triple Crown trail, finishing third to Code of Honor in the G2 Fountain of Youth Stakes at Gulfstream in his seasonal debut. He went on to score a dominant 3 1/2-length win in the 1 1/8-mile G2 Blue Grass Stakes at Keeneland, earning a berth into the Kentucky Derby.

This year, Vekoma was perfect with wins at three different racetracks, kicking off his 4-year-old season with a 3 3/4-length victory in Gulfstream's Sir Shackleton Stakes in March. Vekoma earned his first Grade 1 triumph in the form of a dazzling 7 1/4-length win in the Carter Handicap at Aqueduct, earning a career-high 110 Beyer Speed Figure. He validated his Carter performance with a front-running win in the prestigious Met Mile, defeating Grade 1 winners Code of Honor and McKinzie, among others, while stopping the clock in 1:32 4/5 – just .15 seconds off the stakes record for the 129-year-old fixture in New York.

An earner of $1,245,525, Vekoma was bred in Kentucky by Alpha Delta Stables. He is out of the Speightstown mare Mona de Momma who scored her biggest win as a racehorse in the G1 Humana Distaff on the Kentucky Derby undercard at Churchill. Vekoma's second dam, Society Gal, is a half-sister to successful sire Mr. Greeley.

Vekoma becomes the third Met Mile winner in the last four years to take up stud duty at Spendthrift. Mor Spirit, the 2017 winner, and Mitole, the 2019 winner, both stand at the historic Lexington-based farm.

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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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