I want to know what AT&T, Monsanto and DeKalb/Asgro are going to do with the animal.
Sounds like they're making an investment in animal cattle breeding for the future. Monsanto and DeKalb/Asgro I can understand, but AT&T? That's a little ways from their main line of business. But then again I guess AT&T is only in for one third of the 100 grand for the steer.
...and I want to go back to an era of my childhood growing up in northern Michigan where such fairs were the highlight of my summers before the onset of fall and school..........
Yea, I miss my childhood alot...........
They “turn” it, which means selling it for the floor price provide by whatever slaughterhouse is providing the contract for the sale animals.
That sale amount is deducted from the bid price and the winning bidder(s) then pay the difference to the fair accountant who then cuts checks to the child, 4-H and FFA. The difference is tax deductible, the actual cash value of the steer is not.
I wish they’d spread that cashola around to more state and county fairs instead of making one big splash.