Later this week, breeding sheds across the Lexington region will open their doors to mares, but in the lead-up to the start of the 2025 mating season, there is an underlying feeling of unease in the Bluegrass. Several farms have already--and quite publicly--announced discounts off their initially posted stud fees, while others are either fighting hard to attract mares, or shopping private deals or fee reductions. The fear among many in town is that in 2025, the industry has reached some sort of tipping point--either due to the economy, a...