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Originally Posted by GenuineRisk
I don't see how making the stallion books smaller would cause prices to drop- that seems to go against the law of supply and demand- I would think the fewer mares, the higher the fee would go for a top stallion (though I can see your point that owners would keep mares running longer because they couldn't get a top stallion). I do think you're right that fewer permitted covers is a great idea, and better for the industry; I just don't see how it would encourage owners to keep top colts running.
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It would not cause prices to drop but would limit the dollar amount a stallion would be able to produce which is where the value of a stallion exists. Currently there are horses that are breeding close to 200 mares. Cut that in half and you signifigntly lower the value of the stallion. Sure the top stallions prices may rise a bit but you still give incentive for the lesser horses like Lawyer Ron as a 3 year old to return and become stars. I still believe that the best horses may still retire and sit out a year with high values and not risk lowering them. The benchmark is three years worth of fees to cover the cost of the horse. Many stallions are capturing the cost by breeding to an excessive number of mares.