Foal market struggles amid cost-cutting measures in Ypäjä, Finland

Marjo Kaipainen, an entrepreneur in the harness racing industry and horse breeder, reports that the foal market has suffered significantly amid recent cost-cutting measures affecting the sector. She highlights last week’s largest autumn foal auction in Ypäjä as a key example.

“Initially, things looked promising, and there were plenty of attendees. But when the first foals were presented, it felt as if a cold shower had been poured over us. Out of over a hundred foals for sale, 40 went unsold. Some received no bids at all, while others were called back by their owners,” she explained. “Only a few foals fetched prices that would leave some profit for the breeders, while the majority sold for nearly nothing. It would have been wise to buy now.”

From the breeder’s perspective, the price for a foal should ideally be at least €8,000 to yield any profit after accounting for the substantial investments in breeding and foal care. “You invest a year in raising a foal only to bring it to auction, where it sells for a pittance. It makes me question if I’m foolish for continuing this,” Kaipainen added.

Antti Lehtisalo, chairman of the central horse industry organization Hippoksen, acknowledges the uncertainties surrounding horse racing. The government plans to reduce a €40 million support package by €8.5 million over the next two years. Since the merger of the horse industry’s gaming company Fintoto with Veikkaus in 2017, over half of the funds have been directed to racehorse prizes, with growing concerns about diminishing revenue from Veikkaus.

Despite the challenges, Kaipainen remains optimistic, citing potential improvements, such as a proposed joint gaming venture with Sweden’s ATG and the hope of establishing a dedicated gaming company. She expresses a steadfast commitment to breeding horses, driven by a passion for the industry that she shares with her partner, Seppo Suurosen.