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Maximak became the third-highest lot sold on Inglis Digital and the most expensive race filly when Dave Morrissey secured the daughter of Smart Missile for AU$420,000.
Established in 2019, Cannon Hayes Stud is a product of the Irishman's passion and dedication to the industry. The Impact speaks to Morrissey about Maximak, the challenges he has had to face in this year’s buoyant market and how he feels about the lack of people being attracted towards the industry he is so ardent about.
Q: Maximak is scheduled to visit Dundeel. Could you tell us why you chose this stallion?
A: Earlier this year, the half-sister to Maximak sold at Easter for A$320,000. She was probably our favorite yearling of the year. We are hopeful the cross works well again. (Easter Inglis Sale - Lot 156: Dundeel (NZ)/ Wecansay Mak
Q: Did you get a chance to sight the horse before your purchase
A: No, not personally myself. We got Will Stott from Inglis to view the mare for us in Victoria. He said she was a very nice type. And she didn't disappoint when she turned up at the farm. Lots of quality and a very good physical so we're very happy with the purchase.
Q: You also said that you tried to buy mares at the Great Southern Sale and some online sales, but you were unsuccessful. Why was that?
A: The market has just been so strong in Australia and our valuations have been probably 30% - 40% off of where they should have been based on the buoyancy in the market. We bought a couple of mares but not as many as we thought we would get. Things happen for a reason, but we are certainly pleased to have secured Maximak.
Q: That’s really great. How many mares do you have on the farm?
A: There are around sixty horses at Cannon Hayes. Approximately two thirds are mare’s and the remainder are yearlings.
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Q: And are they all in-foal?
A: No half of those mares are in-foal; we are expecting 30 foals during the 2021 breeding season. We have retired mares off the track and continue to agistment mares for other farms based in the southern Australia that would like to visit stallions in the Hunter Valley. We buy mares, breed them, rear their foals and then sell them on at the major Yearling sales in Australia and New Zealand. We have a few clients that breed to race, but 90% of our business plan is to breed market the major yearling sales.
Q: Do you feel the digital platform worked well for you?
A: Yes, we found the platform very good. We will definitely continue to use it in the future. We've even been looking at the sales in Ireland, its wonderful it doesn't matter where the sales are in the world you can be a part of it. We're always checking online auctions. The industry is a small place, you can always find someone that you trust to inspect the horses. Today, the photos and videos are such good quality and the information on the platform is so clear, that it's easy for us to purchase a horse.
Q: Is there a stallion that you consider to be under the radar that you look forward to seeing get popular?
A: Yes, there is one stallion. His name is Star Turn (Star Turn - https://vinery.com.au/stallions/star-turn/). He has been ticking all the boxes; proven on the track and at the sale ring. He is a beautiful physical and for us in Australia, it's very important that he's an outcross to all our Danehill line horses. He's got a phenomenal strike with runners to winners. He's running at about 45%. And I'm sure the quality of mares will improve if he keeps getting these results. At a service fee of $15,000 everybody has a chance to invest. So personally, I'm a big fan of the stallion. I'm really excited to see his progeny. We tried to secure some this year but unfortunately fell short.
Q: What was your favourite weanling, yearling or mare purchase this year?
A: Typically, I don't buy a whole lot of horses but we probably didn't end up with the ones we wanted because of the market being so strong. But we bought a lovely Brave Smash filly at the Gold Coast Magic Millions weanling sale. We are really happy with her. (Lot 119 – Our Girl Raquie – Brave Smash)
We aim to put her back through the sales ring, but she's does have a lot of resilience and residual value if we choose not to.
Q: Please tell us more about your farm and the name Cannon Hayes Stud.
A: Cannon Hayes is where my mother lives in Ireland. Personally, I have been in Australia for twenty years. And I worked at Arrowfield for seventeen and a half years. I looked after the stallions initially and then later managed the farm for five to six years. Then there came a time when I decided to take a step further and purchase my own property; it was the right timing and decision for me and my family. We have been at Cannon Hayes for about two years and it’s a beautiful 100-acre boutique farm on the edge of Scone in the Hunter Valley, home of the Thoroughbred industry in Australia.
We have sixty horses here and I am joined by my wife, and my two young sons, Teddy and James. We aim to keep our drafts small, maybe five or six horses; keep it select and hopefully can provide investors with quality horses that will run well on the track.
Q: Are they client mares or yours?
A: Approximately 95% of the horse on the farm are owned by our clients. We have some wonderfully supportive and progressive clients; I consider myself very lucky. Yulong have also been good supporters; sending us seasonal mares to be covered by stallions in the Hunter Valley.
Q: Who's been the greatest influence on your life?
A: I have been fortunate enough to work with some incredible people during my career; they have been influential to our industry but also incredibly supportive of me and my career. I am very grateful. My parents and my wife have also been big supporters and have always encouraged me to pursue my goals and dreams
Q: What is the kind of change would you like to see in the industry?
A: I would like to see unity between our major Racing Clubs. We have fantastic racing in Australia; the prize money is outstanding. The race clubs seem to be competing against each other rather than working together. It would be great to have the best two- and three-year old’s horses in the country competing against each other on a Saturday.
Another thing that I would really like to see improve within the industry is how we are promoting ourselves to the next generation. We need to generate clear pathways for professional development and concentrate on retention and incentives to keep our young and talented people within the industry. It's a great industry, you work hard but there is certainly a thrill to breeding and/or being involved with a horse that wins a race or sells well through the ring. We need to promote ourselves in the schools and especially on the large farms being innovative in the management of staff rosters; people need time to enjoy life with family and friends. Something 2020 and 2021 has certainly made clear to us all.
Also, I am not certain the model of paying large money; potentially up to $3000 per week for freelancers to work at sales in correct. The detriment of this is twofold; during the sales season the most experienced personal are lost to the sale ring, but also it’s the people that work with the horses from birth through to their time in the sale ring that should be getting the rewards.
Q: What book are you currently reading and what film Have you watched recently that you really enjoyed?
A: I'm actually watching a series from the UK called The Fall, it’s very interesting. And I'm actually reading the Barefoot Investor; preparing for school fees!