The Book 4 section of the Keeneland November Breeding Stock Sale concluded with the auction's seventh session Monday, and while the average and median increased for the section, gross sales fell with an increased buy-back rate.Through the two Book 4 sessions, 513 horses sold through the ring for a gross of $18,486,200. The section's average was $36,035 and the median was $27,000.During the two sessions of Book 4 last year, 766 horses sold through the ring for a gross of $22,585,400. The section's average was $29,485 and the median was $20,000.“I think that what we are seeing is the market is holding its own, but it's more fragile, with the cheaper mares, in particular,” said Mark Taylor of Taylor Made Sales Agency, which is the auction's leading consignor through seven sessions and consigned the co-topper of Monday's session. “Rising costs of just keeping a mare are really pinching the breeders and I think that's one reason you are seeing the foal crop diminish. It costs almost as much to keep a cheap horse as it does an expensive one. The vet costs are a big driver of that–X-Rays are expensive, now you have to ultrasound all these babies, and if you want to ultrasound all four limbs, that's $700 or $800. And now the market is almost dictating that you do that.”Last year's red-hot weanling market may have encouraged breeders to purchase mares with hopes of a quick return on their investment, according to Taylor.“Last year, we were getting yearling prices for foals,” he said. “It gave people a little bit more confidence to buy mares. Everyone is dreaming, 'If I get this foal out that's by a first-year sire, I could be one of those people who are getting $200,000 next year.' So it makes you more confident to buy a $25,000 or $35,000 or $45,000 mare. But now, the foals are a little bit more realistic. I think some of the pinhookers got hurt a little bit last year and they've pulled in their horns a little bit. And so the people that are buying the mares aren't seeing the home runs being hit quite as often. I just think the cost of production is what is squeezing the breeders and what is making owning lower-end mares less appealing. And I think that is driving the buy-back rate.”Taylor concluded, “Unfortunately, I think we are losing some breeders every year that just can't keep up with the cost of production. That's the bottom line.”With 422 horses catalogued for Monday's session, 312 horses were offered and, with 63 horses reported not sold, the buy-back rate was 20.19%. It was 18.30% at the same session a year ago.Weanlings dominated Monday's seventh session of the November sale with two Grade I-winning sons of Gun Runner–Gun Pilot and Gunite–siring the $225,000 session co-leaders.First to bring the co-top price was a filly from the first crop of Gun Pilot (hip 2595) who sold to Bull Elk Bloodstock. A half-sister to stakes winner Great White (Volatile), she is out of Kelly Bag (Uncle Mo). She was bred by Three Chimneys and consigned by Taylor Made Sales Agency.“Our sales team has been really high on Gun Pilot since he retired,” Taylor said. “We thought he was good value. We thought he had a lot of talent and we love sons of Gun Runner. This filly was an example of what we thought could happen. She was just an exceptional individual. She had enough pedigree–her half-brother was one of the top 3-year-olds this year. She was just a great individual and I think it's an example of what can happen in the market when you get the top physical by an exciting young sire.”Also bringing $225,000 was a colt by Gunite (hip 2733) consigned by Noel Murphy's Castle Park Farm. Out of Sachem (Cairo Prince), he is from the family of Grade/Group 1 winners Hystericalady, Sacramentada (Chi), Senora Bonita and O'Connor. He was bred by Baalbek and purchased in utero for $52,000 at last year's Keeneland November sale.A total of 226 Book 4 weanlings sold for a gross of $9,361,300 this year. The average was $41,422 and the median was $30,000.A year ago, 308 weanlings sold through the ring during Book 4 for a gross of $10,607,800, an average of $34,441 and a median of $22,000.The Keeneland November sale continues through Wednesday with sessions beginning each day at 10 a.m.The post $225k Weanlings Share Top Billing at Keeneland Monday appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.