In the past year, sellers would put up the price, and there would be three people who wanted to buy at or above the asking price. That kind of demand has really shut down recently.

When the market was running at 20 and 15 days, people had to get in line to make offers that were at or above the list price. Now people have more time to make a decision.

If you were discouraged in the past by the labels or were taking medications that were not helpful because they contained the wrong active ingredient, you should feel encouraged now.

This committee plans to meet both earlier in the calendar year and more often than in past years to review what is in the best interests of the industry and the public. I already have discussed this subject with all track owners in the state and nearly all of the (industry) organizations. We tried to discuss their views, concerns, and philosophies of how California should move forward. I have not suggested or concluded what a final outcome would be to anyone. I have stated that I want to see racing promoted, and the best program presented within the state.

I don't know what to make of it. I think it's just a burp.

That's just the continuing trend. We believe the price will continue to be up even in the face of fewer sales.