Latah County Market Animal Sale
Name:
Latah County Market Animal Sale
Date:
September 14, 2019
Time:
9:00 AM - 3:00 PM PDT
Event Description:
Join Latah County 4-H & FFA as they celebrate the efforts of their area youth in the completion of their Market Animal projects. Your support at the sale is a great reward for the efforts of Latah County 4-H & FFA Members.
How to Buy
If you are the winning bidder on an animal at the sale you have two options as the buyer:
KEEP – The “keep” option is the most straightforward option and means that you will pay for the full sale price of the animal.
Price = animal weight x bid amount.
For example:
250 lb hog with a $2.00/lb high bid = $500 price
1,250 lb steer with a $1.00/lb bid = $1,250 price
You now own the live animal! You will need to arrange for slaughter of the animal and packing of the meat. There are numerous reputable “packers” in the area. It is your responsibility to arrange for the animal to be picked up at the fair (most packers are planning to pick up numerous animals but you
still need to contact them immediately after the sale on Saturday).
TURN – The “turn” option allows you to provide financial support to the 4-H/FFA member, but not take ownership of the animal nor receive any meat.. You simply pay the “blue sky” value of the animal and a “floor buyer” takes ownership of the animal. The floor buyer has made arrangements to purchase all animals not kept (“turned”) for a predetermined price. This price is posted/announced prior to the sale starting.
For example:
250 lb hog with a $2.00 high bid price & a “floor” of $0.45/lb.
You pay the difference (called “blue sky”) between the bid price and the floor price.
* You pay: $1.55/lb x 250 lb = $387.50
The “floor buyer” pays: $0.45/lb x 250 lb =
$112.50
The youth still receives $500 for the animal, you only pay the blue sky support money, but you do not get the meat or live animal.
Each buyer will receive two 1-trip meal tickets; additional tickets are available for purchase.
How to Buy
If you are the winning bidder on an animal at the sale you have two options as the buyer:
KEEP – The “keep” option is the most straightforward option and means that you will pay for the full sale price of the animal.
Price = animal weight x bid amount.
For example:
250 lb hog with a $2.00/lb high bid = $500 price
1,250 lb steer with a $1.00/lb bid = $1,250 price
You now own the live animal! You will need to arrange for slaughter of the animal and packing of the meat. There are numerous reputable “packers” in the area. It is your responsibility to arrange for the animal to be picked up at the fair (most packers are planning to pick up numerous animals but you
still need to contact them immediately after the sale on Saturday).
TURN – The “turn” option allows you to provide financial support to the 4-H/FFA member, but not take ownership of the animal nor receive any meat.. You simply pay the “blue sky” value of the animal and a “floor buyer” takes ownership of the animal. The floor buyer has made arrangements to purchase all animals not kept (“turned”) for a predetermined price. This price is posted/announced prior to the sale starting.
For example:
250 lb hog with a $2.00 high bid price & a “floor” of $0.45/lb.
You pay the difference (called “blue sky”) between the bid price and the floor price.
* You pay: $1.55/lb x 250 lb = $387.50
The “floor buyer” pays: $0.45/lb x 250 lb =
$112.50
The youth still receives $500 for the animal, you only pay the blue sky support money, but you do not get the meat or live animal.
Each buyer will receive two 1-trip meal tickets; additional tickets are available for purchase.
