The Houston Livestock Show and Rodeo awarded $2,685,669 million in additional premiums to 1,962 junior market exhibitors, which is in addition to the $4 million in guaranteed premiums that have already been paid to these exhibitors.
“Through the efforts of our volunteer auction committees and the incredible generosity of our auction buyers, we are proud to further reward our junior market livestock exhibitors in furtherance of our mission of promoting agriculture and supporting education,” said Joel Cowley, Rodeo president and CEO.
Texas 4-H and FFA students who qualified for the junior market barrow, lamb and goat, poultry, and steer auctions will receive an additional premium generated from the bonus pools of each respective auction.
The following additional premiums were distributed to each exhibitor who qualified for the respective auctions:
• Junior Market Steer Auction: $3,263.05
• Junior Market Lamb and Goat Auction: $1,003.50
• Junior Market Barrow Auction: $855.97
• Junior Market Poultry Auction: $795.86
Based upon placing, the Houston Livestock Show and Rodeo establishes a guaranteed minimum payment for each exhibitor who qualifies for a junior market auction. The Rodeo also sets a cap amount above the guaranteed minimum for each auction lot. When bidding exceeds the cap amount, the additional funds go into the Rodeo’s Educational Fund to be used for scholarship and grant recipients. Amounts bid between the guaranteed minimum and the cap are accumulated in the bonus pool for that auction, and are then distributed through additional premium checks in September.
The Houston Livestock Show and Rodeo promotes agriculture by hosting an annual, family-friendly experience that educates and entertains the public, supports Texas youth, showcases Western heritage and provides year-round educational support within the community. Since its beginning in 1932, the Rodeo has committed more than $450 million to the youth of Texas.