Record price for junior steer

[GA Bowhunter]

When it comes to beef, my knowledge is limited to cooking and eating it.

How does paying 300k for a animal that can't reproduce make any sense?

It's not a "tax write off" that makes any sense either.

If you want a write off for an ag business, but some equipment or make some improvements.

Is it a case of "I've got the biggest belt buckle and the tallest hat and my boots are the pointiest too."?

[AgHntr10]

When it comes to beef, my knowledge is limited to cooking and eating it.

How does paying 300k for a animal that can't reproduce make any sense?

It's not a "tax write off" that makes any sense either.

If you want a write off for an ag business, but some equipment or make some improvements.

Is it a case of "I've got the biggest belt buckle and the tallest hat and my boots are the pointiest too."?

People that have been very successful in the show cattle business giving back to the youth.

[Gary Roberson]

Congratulations! Great to see a Hereford win it all. Is it true that it is also a Polled Hereford?
Adios,
Gary

[RPB]

That’s the big news. A Hereford. I think that’s awesome. When I picture stock shows and feed lots I see my dads old show pics from the majors and they are all herefords. Just an image I have so glad to see it happen

[Gary Roberson]

Even more special for it was a Polled Hereford. My Grandfather raised registered Polls, starting in the 40's and then started crossing with Brahmans. Brings back a lot of memories.
Adios,
Gary

[AgHntr10]

Congratulations! Great to see a Hereford win it all. Is it true that it is also a Polled Hereford?
Adios,
Gary

Yes sir Breed Champ Polled Hereford took Grand overall and the Breed Champ Hereford was Reserve over all.

[Gary Roberson]

Long live the Bold Breed!!!!!
Adios,
Gary

[RdRdrFan]

Meh, and the kid gets less than a 100K of that at Houston and in FW they get every penny.

I loved showing at Houston and if my daughters want to we will show there when they are older but the way they distribute the money is a crock. Its borderline socialism where kids/families that put into it for years can end up with nothing and someone who has never been involved at any level can be awarded a scholarship for 5 figures.

PREACH ON MY BROTHER!!!

Houston's payouts are a joke. The show is great. The auction is nothing more than pure BS.

[18ncs]

A Hereford.

[BrandonA]

Meh, and the kid gets less than a 100K of that at Houston and in FW they get every penny.

I loved showing at Houston and if my daughters want to we will show there when they are older but the way they distribute the money is a crock. Its borderline socialism where kids/families that put into it for years can end up with nothing and someone who has never been involved at any level can be awarded a scholarship for 5 figures.

I agree that the payout is a joke. But to say that someone who never put anything in gets x dollar scholarship is a bit extreme. Pretty sure those kids busted their *** to get that scholarship as well

[flywise]

I dont know anything about these shows. I have heard that the kid who's dad knows some really wealthy people will typically get big money for his animal. Does the kid the wrong side of the tracks make his money back or make enough to buy his first house with cash?

[ccolley68]

Meh, and the kid gets less than a 100K of that at Houston and in FW they get every penny.

I loved showing at Houston and if my daughters want to we will show there when they are older but the way they distribute the money is a crock. Its borderline socialism where kids/families that put into it for years can end up with nothing and someone who has never been involved at any level can be awarded a scholarship for 5 figures.

You are correct, they don’t get the full amount. They used to, but when the numbers the top animals were going for got so big, they made the decision to tier it down. The kids still get a sizable chunk, but not $700k.

For those who don’t know, the money earned in these shows isn’t scholarship money, or a trust set up for the kid to use for school. The HLSR just cuts a check to the kid when they leave. They can do whatever they want with the money. The hope and intention is that it does go towards furthering their education, but if they want to walk out and buy a corvette, they can do that as well.

Obviously no animal in a show like that is actually worth $700k, but these big shows like Houston and Fort Worth, it’s just a way for successful people, both in the cattle business and not, to give back. In Houston, it’s the same people usually bidding on the animals at certain levels every year. The champion has been bought by the same group for the last several years, and each year they want to out bid their previous years bid. It’s for a good cause, and they get little in return for it in terms of the animal.

Houston is a terminal auction, which means it’s the last run for the kids and their animals. The buyer doesn’t get the animal to put out to pasture, or put on display. It walks off the stage, goes to a round of holding pens for mere minutes, and goes off to the slaughter house. The buyer gets a picture with the kid and animal backstage, an HLSR buckle, the hide, and a package of meat if they choose (not the meat of that actual steer).

While the top line animals go for well over market value, and well over the amount the kids actually get, there are still 400+/- other animals coming down the auction block that day. Some won’t get near what the kids and their families have put into it via the auction. By tiering the winnings at the top, combined with the HLSR guarantee, and the Steer Auction Committee’s raised funds, this allows for the kids at the end of the auction to go home with a little as well. The HLSR guarantees i believe $2,875 minimum to every kid that shows, regardless what they sell for in the auction. The Steer Auction Committee raises additional funds to add onto that minimum. Last year, we were able to guarantee that every single kid walks out of there with no less than around $6,000, no matter how low the bid price on their animal was.

I don’t know how Fort Worth works, but Houston raises scholarship money for numerous kids, not just the livestock show events and exhibitors themselves. By tiering the winnings at the top, that allows for some of the money to go to other children who could also use the scholarship opportunity. A kid in the show still could walk away with tens of thousands of dollars for school, and another needy kid in town gets an opportunity as a result, instead of one child walking away with over half a million dollars to do with as they choose.

I understand some have mentioned it has socialist tones, and it certainly does, but it’s a non-profit organization raising money for children’s education opportunities. If the organization can help 4 kids with the money raised by one champion steer bid instead of just one, I’m ok with that.

[Texasboy_fitnes]

Wow

[Ms Huntress]

So happy for this boy and his family. Good stuff right there.

[Farmdog]

Thats why I have Hereford bull on my cows winning! Congrats to the family! Awesome!