Mullins' lack of young talent is a concern but he could still farm Cheltenham

Willie Mullins conceded on Wednesday he might not have the same depth of firepower as previous years heading for the Cotswolds next month.

That is something punters used to depending on him have been aware of in recent weeks, and it is borne out in the markets with the Closutton maestro responsible for just two Cheltenham Festival favourites.

When it's seen he saddled ten SP favourites in three successive years up to 2016, it illustrates starkly the extent to which the situation has evolved for the festival's most successful trainer.