Air of cautious optimism as two-week Tattersalls December Sale gets under way.

THERE is barely time to breathe between the conclusion of the Goffs November Sale and the Tattersalls December Sale, which kicks off today with a single session of yearlings.

As the Goffs November Sale drew to a close last night, with the foal section recording increases across the board and international participation ensuring receipts for the mares were running not far behind 2008 levels, there was cautious optimism towards the prospects for the next two weeks of action of Tattersalls from several industry players.

Ballyhane Stud owner Joe Foley said: "There's still good money for good mares but now is a good time to invest in the industry, as there is value to be had.

"International trade has been buoyant as usual, while domestic trade has fallen off a little. But it's been a good sale with a good clearance rate, which is largely due to the efforts of Irish Thoroughbred Marketing and the Goffs marketing team.

I'm sure Tattersalls will be the same, with strong competition for good foals and mares."

Hugo Merry, who has been a prolific purchaser on behalf of Indian clients during the past two days, added: "It's been good trade for any quality stock. Due to the recession, the oversupply issue is being solved and there is more confidence around now.

"I think some people have left their money in play this time around, unlike the last major recession in 1991, when they withdrew their money and instead went into assets. At Newmarket, quality stock will again be much in demand."