The Federation of Bloodstock Agents Australia’s third Continued Professional Development Day was again held at Randwick Racecourse on Tuesday 8th April 2025 and was hosted by MC Vin Cox.
Fresh from their busy involvement at the Inglis Easter Yearling sale, our members, their assistants and associate member’s representatives were addressed by seven industry leading speakers.
They spoke on topics that included currency exchange, veterinary advancements and case studies, industry sustainability discussion, insurance and artificial intelligence.
To kick off proceedings, Michael Carmody of SelhurstFX illuminated the area of currency exchange and explained the areas to be aware of when converting currency, which most FBAA members do when purchasing horses overseas on behalf of clients. He delved into forward rates and negotiating tools that FBAA members can utilise to achieve the best outcomes for their clients.
Renowned independent veterinary surgeon Dr. Steve Hance was the second speaker out of the gates, where he, “demystified the mystical” surrounding yearling sales radiographs and the significance of abnormal findings on saleability and the categorisation of risk. Numerous radiographic images were displayed and prompted discussion regarding incidence, interpretation and impact to athletic outcomes. Steve’s 25 years’ worth of experience further navigated the nuances between client objectives and radiographic findings and how to best tailor his recommendations when advising interested parties on their perspective purchases.
Veterinarians Dr. Dave Keenan and Dr. Frances Peat of Matamata Veterinary Services discussed how stifle pathology impacts saleability versus racing performance and presented the key findings of their research study regarding sesamoids and stifles. Their presentation explained their approach to redefining sesamoiditis by designing a classification protocol involving the grading of vascular channels and abaxial contour changes to sesamoids. Members were able to listen to a statistical break down of prevalence, severity and racetrack earnings of a large study group of sales yearlings to comprehend how they can best interpret findings on future yearling purchases. The inclusion of a case study further complimented their presentation by providing more depth to FBAA member’s understanding and how it can be applied within their selection criteria.
The third veterinary presentation was from leading Australian equine surgeon Dr. Angus Adkins, who spoke about the progress of video scoping of sales yearlings and extrapolated on the recently adopted Havemeyer grading system by Australian and New Zealand auction houses. Angus focused on explaining the function of the Larynx and provided examples of differing scope grades and how they correspond with predicting future racetrack performance. His direct comparison of at rest scopes and dynamic video scopes highlighted the importance of improving the scoping process and how numerous scope grades still carry risk. To finish, Angus alluded to future study results to be released regarding risk ratings on scopes to better assist agents on comprehending their tolerance to risk when navigating sales scoping results.
The final speaker before lunch was Stuart Doughty of Howden Insurance, valued sponsors of the FBAA. Stuart spoke about the scale of Howden Insurance and their entrance into the Australian market by acquiring HQ Insurance and Silks Insurance and their goal of being the largest equine insurance provider globally. Stuart simplified the role of Howden’s as a broker and detailed what products will soon reach the market, making them a one stop shop for equine operators.
The most anticipated discussion then followed the lunch break with John Messara, founding director of Arrowfield Stud and respected Australian thoroughbred powerbroker. Looking ahead, Messara painted a confronting picture with a statistical review of median prize money per horse in New South Wales versus the training cost over the past ten years and the need for more sustainability measures to ensure the future health of the industry. Spirited member participation mirrored John’s passion and discussion concluded with further engagement required.
To close the day, Jack Halford of ThoroughWorks introduced his new platform ThoroughAI and its conceptual development combining AI and sales catalogues for the use of bloodstock agents. Some features included, reviewing historical inspection data to formulate shortlists, Chatbot assistant capabilities to locate specific industry data and other components to assist in streamlining the shortlisting and inspection process.
A sincere thank you extends to all speakers who donated their time and knowledge to continue the upskilling of FBAA members on specific areas of the industry which otherwise would not have been available and to Vin Cox on another stellar job as MC.
