Houston Livestock Show - How's it work?

[stx123]

Question from a newbe.  My daughter just placed a steer at the HLSR.  I know there's a guaranteed 2250 min.  She won't make the auction because it was 8th place.  So she took it to the pen for the truck.  My question is this.  Does she also get market price for taking it to the truck or is the 2250 it?  How does the whole payout work?  WHen?  etc.

 

[blackdirt cowboy]

She will get a check for the gauranteed $2250 in about 90 days. There is a bonus pool of money that consists of any money bid over the gaurantee and under the capped amount. This money is pooled from the whole sale. It is used first to bring any lot that sold poorly up to its gaurantee. The remaining money is used to cover any auction expenses not already covered. If, after that, there is money left over, it will be divided evenly among the kids who made the sale. This check, if money is available, will arrive inate summer. The last couple of years, the bonus money has been $3000+ per lot.

 

[stx123]

Ahh.  I think I see.  So the 2250 guaranteed minimum is in place of the market price per pound ($1.51).  Then the bonus.  Holy Cow!!  $3000!  Seriously?  That's nuts.  I see why so many people go to Houston now.  Being from South Texas, we've always concentrated on San Antonio.  I think we'll be changing focus now.

 

[chambero]

They had signs up everywhere explaining it in detail.  Auction proceeds, value of carcasses (HLSR actually sells the meat as a fundraiser), and donations go into one big pot.  You'll get the guaranteed amount at the end of May.  Second bonus check comes about Sep.  bonus should be bigger than last year.  Their "preselling" was 10-25% ahead of last year.  Depends on how much shows up today.

 

[blackdirt cowboy]

Our county agent talked to some of the higher ups on the auction committee. They told him the expect the bonus money to be well in excess of $3000 this year.

 

[afhm]

Question from a newbe.  My daughter just placed a steer at the HLSR.  I know there's a guaranteed 2250 min.  She won't make the auction because it was 8th place.  So she took it to the pen for the truck.  My question is this.  Does she also get market price for taking it to the truck or is the 2250 it?  How does the whole payout work?  WHen?  etc.

Did your daughter's steer get branded? If not then you only get the market price.

 

[blackdirt cowboy]

Question from a newbe.  My daughter just placed a steer at the HLSR.  I know there's a guaranteed 2250 min.  She won't make the auction because it was 8th place.  So she took it to the pen for the truck.  My question is this.  Does she also get market price for taking it to the truck or is the 2250 it?  How does the whole payout work?  WHen?  etc.

Did your daughter's steer get branded? If not then you only get the market price.

I should have asked this before I answered. I assumed the steer got branded.

 

[stx123]

Yes, steer was branded.  8th place.