I agree the foal crop is another barometer of how the industry is performing, as Curious says horses can come from anywhere to boost up numbers in our industry , but realistically who is going to be importing horses into NZ to race for our stakes , apart from the obvious. It isn't going to happen.
So for me the foal crop indicates whether owners,breeders have any real faith in our industry as its probably the most affordable means of getting a horse available to locals outside of the obvious.