It happens every time somebody hears that the grand champion steer at Houston brought in $300k+ and realizes the kids only get about $75,000 of it…
Why does Houston take away their money? They EARNED that.
No, they didn’t.
They earned the clearly set premium prices that Houston guarantees each year. The amount the grand champion steer will actually get at Houston is as straight forward and transparent as it can be. The only people who think steers “earn” more than that are people who haven’t actually read what Houston says.
The buyers aren’t even buying the champion steers and can't take them home if they wanted to. The champions and reserves are all headed off to this fun thing called a carcass contest.
It’s all charity. It’s merit based charity, for sure, but it’s complete charity on the part of the buyers. Well, that, and the opportunity to schmooze with other Houston big wigs at the buyer parties.
Where does the money go? Does it go to them “inner city kids”?
The whole “inner city kids” thing is a myth that needs to be nipped in the bud.
It’s used to cover any differences between what the calf brings and the guaranteed premium. The money left over after that is divided up even between all of the steer exhibitors and checks for several thousand dollars a head are typically sent out in the fall.