Breeders were hit hard yesterday by a slumping clearance rate at the second and final session of the Magic Millions Perth yearling sale at Belmont Park.

The market swung in favour of buyers and speculators, in contrast to the first session on Tuesday which featured 18 yearlings fetching $100,000 or more.

The clearance rate yesterday finished at 68 per cent, with 148 lots sold and 70 passed in.

Breeders also battled a mediocre clearance rate during the middle of the first session before it recovered to finish at 76 per cent.

Several passed in lots were sold yesterday to bump the clearance rate up to 80 per cent.

Overseas interest was poor again yesterday.

Last year, sessions two and three yielded a combined clearance rate of 69 per cent after 225 lots were sold and 100 passed in.

This year's catalogue was reduced by 165 yearlings in a "quality over quantity" approach from Magic Millions.

MM managing director Vin Cox said it was tough going.

"Today's market sold reasonably," he said.

"We budgeted for an average of just under $20,000 and it sat at $24,000.

"It was disappointing that the Asian buyers didn't turn up.

"If we can get the clearance rate up to 70 per cent it would be a reasonable result.

"Breeders need to continue to invest and upgrade bloodstock for the long-term health of the breeding industry."

An Oratorio colt out of Academy Girl topped yesterday's second session when he was bought by trainer Trevor Andrews for $100,000.

Mungrup's Danehill Express colt out of Due South fetched $95,000. Trainer Simon Miller bought the colt.

The West Australian

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