We used to have an Arab and a quarter horse studs. We long ago quit breeding for a variety of reasons. Like dogs and cats, there are too many unwanted horses, people that had no idea what they were getting into, and expenses. Vets coming out of school that want a 9 to 5 schedule, older vets retiring. I just spent $249 for a ten lb container of Throid L, $425 for a 160 day supply of cushing's medication and $106 for Equioxx (arthritis). Add to that 4k to take a horse to a large animal hospital last April only to put him down, another $275. When our last two go, I will miss them but not the work and the bills.
I don't know but cattle operations must be feeling it too?
On a happier note, my area has hit a dry spell, maybe to dry but there is hay making going on everywhere that i go. The farmers are having a "field" day