Horse Prices Plunge
In Northern Michigan and across the country, horses prices have plummeted in recent years. Many blame the bad economy, pointing out that most people simply can't afford to keep up with the expense of caring and feeding for a horse, which can cost several thousand dollars per horse each year. The Perfect Horse Ranch in LeRoy in Osceola County says several years of over-breeding have also saturated the market, driving costs way down. It's forced them to change the focus of their business from breeding and selling to training horses. After speaking with the owners of the horse ranch and a local feeding company, 9&10's Kalee Iacoangeli and photojournalist Stephanie Adkins report on how the falling prices are impacting the local horse industry.