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To Ride A Low Backed (Swaybacked) Horse or NOT?
Your horse will let you know if it hurts him or not: swishing tail while you ride, grinding his teeth, pinning ears, crow-hopping with his back-end. All of these he will do once you are in the Saddle if it is the riding that bothers him.
The biggest problem that you will have is finding a saddle to fit correctly. For the comfort of the horse, I would go the extra mile and hire someone who truly KNOWS how to fit a saddle to him.