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Houston Livestock Show awards additional premiums
HOUSTON -- With major successes from the 2013 Houston Livestock Show and Rodeo junior market auctions, the show recently awarded more than $1.72 million to 1,800 auction exhibitors in additional premium money, according to a Sept. 10 Houston Livestock Show press release.
For the second year in a row, all junior market auctions brought in enough bids to award additional money to livestock auction exhibitors. After each market auction (barrow, lamb and goat, poultry, and steer):
•All of the money that is bid over the guaranteed payments, up to the potential maximum payment, goes into a bonus pool;
•Bonus pool funds are first used to cover any lots that did not bring the guaranteed amount, expenses for the particular auction, and functions of the auction committees;
•Then remaining bonus pool funds are evenly distributed among all auction exhibitors in the form of additional premiums.
The following was distributed to each exhibitor in the respective auctions, in addition to the guaranteed amount each already received at the auctions:
•Junior Market Steer Auction: $2,373.08 (record additional premium amount)
•Junior Market Lamb and Goat Auction: $774.30 (record additional premium amount)
•Junior Market Poultry Auction: $433.68
•Junior Market Barrow Auction: $357.77.
The 2014 Show runs March 4-23. For more information, visit www.rodeohouston.com.
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