Horses and the Economy

Posted by Laura Thompson Nov 4, 2008

It seems like just about everyone is preoccupied with the economy. In fact, it is considered the single most important factor in today's election, and I feel like I should shed some light on how the current economy crisis will affect horses and the equine industry.

For one thing, domestic horse sales are probably going to decline over the next few months, and perhaps for the next few years. I'd imagine that international horse sales will continue to escalate, especially as it pertains to performance horses. After all, the wealthiest horse owners who participate in high-level shows are going to be spending money regardless of the economy.

Additionally, we'll probably see ever-increasing prices on hay and grain. My advice? Order in bulk. Build positive relationships with providers of equine feed and supplements, and show customer loyalty by ordering large quantities from the same suppliers. This is especially true for large equestrian centers who need more grain and hay than single-horse owners.

This is not the time, however, to panic. People are passionate about horses, which means that they will continue to funnel cash into the equine industry. Boarding and horseback riding lessons will continue, people will still pay for training and you can sell your horse if you have made that decision. It just might require more effort.

If you are concerned about horses and the economy, I'd advise you to continue working and playing as normal. Pretend we are living in lighter economic times. Although you shouldn't pass up a deal that will save you money (and when would you ever do that?), closing up shop and refusing to spend any money will just make our economic problems worse.

Furthermore, equestrian business owners should consider increasing their prices if they haven't already. Business owners in all industries must keep up with the additional expenses they incur during times of poor economy, so make sure you are taking care of yourself first. And if you are a horse owner who boards at a boarding facility, keep in mind that the owners simply want to continue offering the excellent service you've enjoyed for years.

We'll get through this failure of economy just like we've gotten through other times of hardships. Just remember that you love working with horses.