"Yes, there is an economic recession and that may have an impact on prices at the sales but that's something as breeders that we have to deal with."
Many good judges are labelling Lot 353, the Fastnet Rock colt, a three-quarter brother to super mare King's Rose as a leading yearling at the sale.
King's Rose raced as a 2 and 3-year-old from the Matamata stable of Mark Walker and Jason Bridgman before this season joining the Melbourne stable of Peter Moody.
King's Rose was crowned New Zealand Bloodstock's Filly of the Year after dominating the 3-year-old ranks last season. Victories in the New Zealand Bloodstock 1000 Guineas (Group One), New Zealand Bloodstock Royal Stakes and Sir Tristram Fillies Classic (both Group Two) underlined her class.
King's Rose won back-to-back Group Two races in Melbourne when kicking off her 4-year-old campaign for Moody as well as recording two second placings at Group level.
Fastnet Rock is certainly a stallion everyone wants to be part of.
Atlantic Jewel and Mosheen dominated the spring racing carnival in Melbourne while in New Zealand this season Planet Rock and Rock 'n' Pop were star performers.
Hogan is reserved in his assessment of the 2012 Cambridge Stud draft presented at Karaka: "They're all here for sale and like every other vendor here I am nervous and also excited with what is coming up over the next week. Outstanding, quality yearlings come out of this sale every year.
"New Zealand-bred racehorses have again performed well overseas over the past 12 months and that's why the international buyers are out here in force again."