Houston Awards Junior Market Exhibitors with Nearly $3.3 Million in Additional Premiums
HOUSTON, TX - Houston Livestock Show and Rodeo officials awarded $3,296,188 in additional premiums to 1,875 junior market exhibitors. The additional premiums are given in addition to the $4,212,000 in guaranteed premiums that have already been paid to these exhibitors.
“Thanks to the dedication of our volunteer auction committees and the generosity of our auction buyers, the Houston Livestock Show and Rodeo is proud to further support the hardworking Texas students who qualified for our 2019 junior market auctions,” said Joel Cowley, Rodeo president and CEO. “We remain steadfast in our mission of promoting agriculture and supporting education, and there is no doubt that these additional premiums will do just that.”
Texas 4-H and FFA exhibitors who qualified for the junior market steer, barrow, poultry, and lamb and goat auctions will receive an additional premium from the bonus pools of each individual auction.
The following additional premiums were distributed to each exhibitor who qualified for the respective auctions:
- Junior Market Steer Auction: $4,848.87 - Junior Market Lamb and Goat Auction: $976.34 - Junior Market Poultry Auction: $960.65 - Junior Market Barrow Auction: $953.56
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.