Hedonic Price Analysis of Thoroughbred Broodmares in Foal

Leigh Maynard and Kelly M. Stoeppel

Journal of Agribusiness, 2007, vol. 25, issue 2, 15

Abstract: Thoroughbred broodmares are the foundation of a successful racing operation. This study estimated the impact of breeding, racing, and market characteristics on broodmare auction prices. Data represent 604 in-foal broodmares sold in Keeneland’s 2005 sale. Prices were highly responsive to the sire’s stud fee, the broodmare’s age, and progeny performance in graded stakes races, with pronounced day-of-sale effects. The stud fee marginal value was substantially lower than one break-even estimate, suggesting possible disincentives for investment in stallion services. Out-of-sample forecasts were far superior to naïve forecasts but were not accurate enough to use in isolation from other decision aids.

Keywords: Agribusiness; Livestock Production/Industries (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (9)

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https://ageconsearch.umn.edu/record/62295/files/JAB_Fall07__05_pp181-195.pdf (application/pdf)

Related works:
Working Paper: Hedonic Price Analysis of Thoroughbred Broodmares in Foal (2006)
Working Paper: Hedonic Price Analysis of Thoroughbred Broodmares in Foal (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jloagb:62295

DOI: 10.22004/ag.econ.62295

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