A stable foal crop, steady demand for commercial yearlings and a desire by breeders to capitalize on favorable auction market conditions have driven the percent of the foal crop sold at public auction as yearlings up to 27% in recent years. While a record 10,160 yearlings changed hands in 2007, an additional 3,828 yearlings were offered for sale but did not meet their reserve price. The 27.4% RNA (Reserve Not Attained) rate in 2007 was the highest since 2001 when 28.6% of the yearlings offered failed to meet their reserve.

FOALS OF	NUMBER OF FOALS REGISTERED	YEAR SOLD	NUMBER OF YEARLINGS SOLD	PERCENT OF FOAL CROP SOLD AT AUCTION
1987	50,917	1988	9,083	18
1988	49,220	1989	8,564	17
1989	48,235	1990	8,760	18
1990	44,143	1991	8,154	19
1991	41,803	1992	7,908	19
1992	38,438	1993	7,413	19
1993	37,138	1994	7,706	21
1994	35,341	1995	7,882	22
1995	34,983	1996	8,025	23
1996	35,366	1997	8,014	23
1997	35,141	1998	8,275	24
1998	36,021	1999	8,738	24
1999	36,928	2000	9,530	26
2000	37,750	2001	9,002	24
2001	37,900	2002	8,941	24
2002	35,976	2003	8,843	25
2003	37,049	2004	9,412	25
2004	37,904	2005	10,088	27
2005	38,191	2006	10,142	27
2006	37,300*	2007	10,160	27
*Estimated figure Sources: The Blood-Horse and The Jockey Club Information Systems Inc.