WEBVTT 00:00:14.189 --> 00:00:20.969 Creeping over fields of green Remembering the 00:00:20.969 --> 00:00:27.269 faces The moments unseen The hands that built 00:00:27.269 --> 00:00:33.590 a dynasty The vision in their eyes Echoes in 00:00:33.590 --> 00:00:38.810 the auction bar Beneath an endless sky This is 00:00:38.810 --> 00:01:03.840 the bull buy Turn the bar It's a bitter January 00:01:03.840 --> 00:01:07.359 morning in 1985, and you stand in the doorway 00:01:07.359 --> 00:01:10.439 of your barn, watching your breath fog in the 00:01:10.439 --> 00:01:13.379 frigid Indiana air. The weight of impossible 00:01:13.379 --> 00:01:16.420 decisions presses against your chest like a physical 00:01:16.420 --> 00:01:20.060 force. Feed prices have skyrocketed to levels 00:01:20.060 --> 00:01:22.840 that would make your grandfather weep. Corn at 00:01:22.840 --> 00:01:26.599 $3 .20 a bushel when you budgeted for $2 .40. 00:01:26.780 --> 00:01:29.840 Your milk check barely covers half of what it 00:01:29.840 --> 00:01:32.370 used to. And the banknote that seemed manageable 00:01:32.370 --> 00:01:35.430 just two years ago now looms like a death sentence. 00:01:35.790 --> 00:01:39.709 You watch as valuable bull calves, animals that 00:01:39.709 --> 00:01:43.129 should be worth $15 ,000 each, are loaded onto 00:01:43.129 --> 00:01:46.230 trucks bound for the slaughterhouse. Your hands 00:01:46.230 --> 00:01:49.150 shake, not from the cold, but from the desperation 00:01:49.150 --> 00:01:52.209 of a man who built an empire on borrowed dreams 00:01:52.209 --> 00:01:55.090 and now watches it crumble into hamburger meat. 00:01:55.469 --> 00:01:58.280 These aren't just cattle being loaded. they're 00:01:58.280 --> 00:02:01.079 generations of careful breeding genetic treasures 00:02:01.079 --> 00:02:03.159 that could have shaped the holstein breed for 00:02:03.159 --> 00:02:06.920 decades to come but you don't know can't possibly 00:02:06.920 --> 00:02:09.400 know that from this moment of complete financial 00:02:09.400 --> 00:02:12.360 devastation a genetic revolution is about to 00:02:12.360 --> 00:02:15.840 be born that one phone call one empty semen tank 00:02:15.840 --> 00:02:18.740 one accidental mating will create a holstein 00:02:18.740 --> 00:02:21.759 dynasty that will reshape dairies from wisconsin 00:02:21.759 --> 00:02:25.520 to germany to japan that the cow born from this 00:02:25.520 --> 00:02:28.550 chaos will become known simply as Black Rose, 00:02:28.750 --> 00:02:31.990 and her descendants will still be rewriting record 00:02:31.990 --> 00:02:35.969 books 40 years later. This is the story of how 00:02:35.969 --> 00:02:38.669 the worst financial crisis in modern dairy history 00:02:38.669 --> 00:02:42.030 gave birth to the most influential Holstein family 00:02:42.030 --> 00:02:44.969 of our time. Welcome to the Bullvine Podcast. 00:02:45.310 --> 00:02:48.009 I'm your host, and today we're taking you deep 00:02:48.009 --> 00:02:51.229 into the barns and boardrooms of the 1980s to 00:02:51.229 --> 00:02:54.270 witness how financial disaster desperate gambles, 00:02:54.270 --> 00:02:56.830 and one man's vision turned genetic wreckage 00:02:56.830 --> 00:03:00.610 into dairy gold. This is the story you need to 00:03:00.610 --> 00:03:02.770 hear, because if you're running genetics today, 00:03:03.009 --> 00:03:05.129 you're probably running Black Rose genetics. 00:03:06.069 --> 00:03:09.009 To understand how we got to that desperate January 00:03:09.009 --> 00:03:13.030 morning, you need to step back to 1979. You're 00:03:13.030 --> 00:03:15.189 standing in your farm office, studying a tax 00:03:15.189 --> 00:03:18.330 form that's about to change everything. Section 00:03:18.330 --> 00:03:21.840 46 of the Internal Revenue Code has just created 00:03:21.840 --> 00:03:25.379 something unprecedented in agriculture, an investment 00:03:25.379 --> 00:03:28.240 tax credit for livestock that allows wealthy 00:03:28.240 --> 00:03:30.599 outsiders to write off cattle purchases against 00:03:30.599 --> 00:03:33.639 their personal income. You're watching something 00:03:33.639 --> 00:03:36.400 that's never happened before in dairy history. 00:03:36.800 --> 00:03:39.740 Investment bankers from Chicago, surgeons from 00:03:39.740 --> 00:03:42.680 New York, lawyers from Los Angeles, people who 00:03:42.680 --> 00:03:45.919 couldn't tell a fresh cow from a dry one, suddenly 00:03:45.919 --> 00:03:49.520 want to own Holstein royalty. The phone calls 00:03:49.520 --> 00:03:51.979 start coming to your farm and to farms across 00:03:51.979 --> 00:03:54.699 the Midwest, offers that make your head spin. 00:03:55.099 --> 00:03:57.479 You remember your father's warnings about easy 00:03:57.479 --> 00:04:00.840 money, but the numbers are intoxicating. A cow 00:04:00.840 --> 00:04:03.599 you might sell for $5 ,000 at the local livestock 00:04:03.599 --> 00:04:07.639 auction suddenly has investors bidding $25 ,000, 00:04:07.819 --> 00:04:12.199 $50 ,000, even $100 ,000. You're witnessing the 00:04:12.199 --> 00:04:14.680 birth of what will become known as the investor 00:04:14.680 --> 00:04:18.259 era, a speculative frenzy. that injects more 00:04:18.259 --> 00:04:20.920 money into the Holstein market in five years 00:04:20.920 --> 00:04:24.779 than the previous 50 combined. The mechanics 00:04:24.779 --> 00:04:28.279 are simple and devastating. These investors make 00:04:28.279 --> 00:04:31.519 a down payment, maybe 10 or 15 percent, then 00:04:31.519 --> 00:04:33.680 write off the full purchase price against their 00:04:33.680 --> 00:04:36.439 taxes immediately. They're betting that tax savings 00:04:36.439 --> 00:04:39.160 plus future breeding fees will cover their costs. 00:04:39.779 --> 00:04:42.160 What they don't understand, what you're beginning 00:04:42.160 --> 00:04:44.899 to realize with growing on ease, is that cattle 00:04:44.899 --> 00:04:48.250 aren't stocks. They eat every day, they get sick, 00:04:48.449 --> 00:04:51.350 they die, and they need to produce income to 00:04:51.350 --> 00:04:54.569 justify these astronomical prices. You watch 00:04:54.569 --> 00:04:57.509 as show cow prices spiral into the stratosphere. 00:04:57.829 --> 00:05:01.790 At the 1982 World Dairy Expo, you stand in the 00:05:01.790 --> 00:05:04.470 sales pavilion as Romandale Reflections sells 00:05:04.470 --> 00:05:08.449 for $1 .3 million, more than most family farms 00:05:08.449 --> 00:05:12.209 are worth. The crowd gasps, but you feel something 00:05:12.209 --> 00:05:15.160 closer to dread. You've been farming long enough 00:05:15.160 --> 00:05:17.600 to know that when something seems too good to 00:05:17.600 --> 00:05:21.920 be true, it usually is. But for now, in the early 00:05:21.920 --> 00:05:25.579 1980s, you're riding the wave. Every dairy magazine 00:05:25.579 --> 00:05:29.300 features stories of overnight millionaires. Farmers 00:05:29.300 --> 00:05:31.399 who've struggled for generations are suddenly 00:05:31.399 --> 00:05:33.480 writing checks with more zeros than they ever 00:05:33.480 --> 00:05:37.800 imagined. The entire Holstein industry is intoxicated 00:05:37.800 --> 00:05:41.680 by this influx of outside money. You don't know 00:05:41.680 --> 00:05:43.980 it yet. But you're watching the creation of the 00:05:43.980 --> 00:05:47.100 perfect storm, one that will soon consume everything 00:05:47.100 --> 00:05:50.480 in its path. You pull into the driveway of the 00:05:50.480 --> 00:05:53.160 Stuckey Farm in Leesburg, Indiana, and immediately 00:05:53.160 --> 00:05:55.899 understand why investors are drawn to this place. 00:05:56.639 --> 00:05:59.740 The barns are immaculate, the fencing perfect, 00:06:00.019 --> 00:06:03.279 the landscaping worthy of a country club. Jack 00:06:03.279 --> 00:06:05.199 Stuckey has built something that looks more like 00:06:05.199 --> 00:06:08.939 a Holstein theme park than a working farm. Jack 00:06:08.939 --> 00:06:12.079 greets you at the car, smooth as silk. with the 00:06:12.079 --> 00:06:13.899 kind of charm that makes you want to trust him 00:06:13.899 --> 00:06:17.279 immediately. He's not just selling cattle, he's 00:06:17.279 --> 00:06:20.500 selling dreams. As he walks you through his facilities, 00:06:20.779 --> 00:06:22.779 you realize you're looking at the future of the 00:06:22.779 --> 00:06:25.220 dairy industry, or at least Jack's vision of 00:06:25.220 --> 00:06:28.920 it. You see that cow there? Jack points to a 00:06:28.920 --> 00:06:31.319 magnificent black star daughter standing in the 00:06:31.319 --> 00:06:34.399 morning sunlight. She's not just livestock, she's 00:06:34.399 --> 00:06:37.740 genetic treasure. In 10 years, every Holstein 00:06:37.740 --> 00:06:40.319 in America will trace back to cows like her. 00:06:41.069 --> 00:06:43.410 His voice carries the conviction of a preacher 00:06:43.410 --> 00:06:47.310 and the enthusiasm of a salesman. It's intoxicating. 00:06:47.569 --> 00:06:50.149 You learn Jack's story as he shows you around. 00:06:50.490 --> 00:06:53.290 He comes from good farming stock. His parents 00:06:53.290 --> 00:06:55.829 are the salt of the earth type who've never owed 00:06:55.829 --> 00:06:58.730 a dollar they couldn't pay back. Hardworking, 00:06:58.810 --> 00:07:01.209 church -going folks who view debt as a moral 00:07:01.209 --> 00:07:04.170 failing. But Jack has bigger dreams than his 00:07:04.170 --> 00:07:06.350 father's modest operation could ever fulfill. 00:07:07.500 --> 00:07:10.319 I was watching these investors pay crazy money 00:07:10.319 --> 00:07:13.779 for average cattle, Jack explains, his eyes lighting 00:07:13.779 --> 00:07:17.040 up with the memory. And I thought, what if someone 00:07:17.040 --> 00:07:19.819 with real knowledge, someone who actually understands 00:07:19.819 --> 00:07:23.120 genetics, what if they played this game? That's 00:07:23.120 --> 00:07:24.740 when I knew I could build something special. 00:07:25.180 --> 00:07:28.199 The numbers Jack shows you are staggering. In 00:07:28.199 --> 00:07:30.639 just three years, he's assembled a collection 00:07:30.639 --> 00:07:33.800 of Holstein royalty that reads like a who's who 00:07:33.800 --> 00:07:39.040 of the breed. Georgian quality. Pat EX96, Nandette 00:07:39.040 --> 00:07:41.879 TT Speckle Red, some of the most famous show 00:07:41.879 --> 00:07:44.579 cows in North America, all carrying the Stuckey 00:07:44.579 --> 00:07:47.480 prefix now. His business model is brilliant in 00:07:47.480 --> 00:07:51.060 its simplicity. He buys elite cows from established 00:07:51.060 --> 00:07:54.160 breeders, not for cash, but on investor terms. 00:07:54.759 --> 00:07:57.639 A third down, the balance paid over two years. 00:07:58.180 --> 00:08:00.860 Then he marks them up dramatically and sells 00:08:00.860 --> 00:08:03.519 them to his network of wealthy investors who 00:08:03.519 --> 00:08:05.699 are more interested in tax write -offs than cattle 00:08:05.699 --> 00:08:08.560 knowledge. You watch Jack work a room at the 00:08:08.560 --> 00:08:11.319 Central National Show and understand why he's 00:08:11.319 --> 00:08:14.120 so successful. He doesn't just know cattle, he 00:08:14.120 --> 00:08:16.699 knows people. He can read what each investor 00:08:16.699 --> 00:08:19.980 wants to hear. The surgeon from Dallas wants 00:08:19.980 --> 00:08:22.740 to own something exclusive, something his country 00:08:22.740 --> 00:08:25.720 club friends will be impressed by. The real estate 00:08:25.720 --> 00:08:28.300 developer from Phoenix wants cattle that will 00:08:28.300 --> 00:08:31.540 appreciate like property. Jack gives each of 00:08:31.540 --> 00:08:34.700 them exactly the story they need. The beauty 00:08:34.700 --> 00:08:37.269 of this system Jack confides as you watch his 00:08:37.269 --> 00:08:39.789 string dominate the show ring, is that everyone 00:08:39.789 --> 00:08:43.529 wins. The investors get their tax benefits, I 00:08:43.529 --> 00:08:45.850 get to assemble the best genetics in the world, 00:08:45.990 --> 00:08:48.909 and the breed gets better. It's the perfect business 00:08:48.909 --> 00:08:53.850 model. By 1983, Jack is taking home premier exhibitor 00:08:53.850 --> 00:08:56.909 banners at major shows across the country. His 00:08:56.909 --> 00:09:00.049 name is in every dairy magazine. He's the face 00:09:00.049 --> 00:09:02.889 of the new dairy industry. Young, ambitious, 00:09:03.250 --> 00:09:06.250 successful. Other farmers look at him with a 00:09:06.250 --> 00:09:09.690 mixture of admiration and envy. But as you spend 00:09:09.690 --> 00:09:12.190 more time around Jack's operation, you start 00:09:12.190 --> 00:09:15.529 noticing things that don't quite add up. The 00:09:15.529 --> 00:09:18.570 pristine facilities, the massive overhead, the 00:09:18.570 --> 00:09:21.450 constant influx of new investors needed to keep 00:09:21.450 --> 00:09:23.769 the whole system running. You begin to understand 00:09:23.769 --> 00:09:26.149 that Jack isn't just building a cattle empire. 00:09:26.629 --> 00:09:30.110 He's building a financial house of cards. And 00:09:30.110 --> 00:09:33.639 like all houses of cards, it's only stable. as 00:09:33.639 --> 00:09:36.460 long as nothing shakes the foundation. You're 00:09:36.460 --> 00:09:38.940 sitting in a sterile government office, watching 00:09:38.940 --> 00:09:41.519 Jack Stuckey try to explain his business model 00:09:41.519 --> 00:09:45.019 to a room full of IRS agents who look like they've 00:09:45.019 --> 00:09:47.639 heard it all before. The expression on their 00:09:47.639 --> 00:09:49.600 faces tells you everything you need to know. 00:09:49.799 --> 00:09:53.299 The party's over. Mr. Stuckey, the lead auditor 00:09:53.299 --> 00:09:57.059 says, his voice devoid of emotion. Can you explain 00:09:57.059 --> 00:10:01.059 how cattle purchased for $250 ,000 and immediately 00:10:01.059 --> 00:10:05.080 resold for $750 ,000 represents a legitimate 00:10:05.080 --> 00:10:08.159 business transaction rather than a tax avoidance 00:10:08.159 --> 00:10:12.080 scheme? You watch Jack's famous charm hit a wall 00:10:12.080 --> 00:10:15.080 of government skepticism. These aren't investors 00:10:15.080 --> 00:10:17.519 dazzled by show cattle and genetic potential. 00:10:17.860 --> 00:10:21.100 These are accountants who deal in numbers, not 00:10:21.100 --> 00:10:24.019 dreams. And the numbers Jack's been creating 00:10:24.409 --> 00:10:27.370 don't pass their smell test. The problem, you 00:10:27.370 --> 00:10:29.730 realize, is that Jack's entire business model 00:10:29.730 --> 00:10:32.889 depends on the IRS continuing to allow these 00:10:32.889 --> 00:10:35.309 aggressive depreciation schedules and investment 00:10:35.309 --> 00:10:38.450 credits. His investors aren't really buying cattle. 00:10:38.610 --> 00:10:42.210 They're buying tax deductions. When those deductions 00:10:42.210 --> 00:10:45.570 get challenged, the whole system collapses. You 00:10:45.570 --> 00:10:47.730 visit the Stuckey farm again six months later, 00:10:47.870 --> 00:10:50.809 and the change is startling. The manicured perfection 00:10:50.809 --> 00:10:53.860 is showing cracks. Equipment that needs repair 00:10:53.860 --> 00:10:57.620 sits idle. The staff looks nervous. Jack himself 00:10:57.620 --> 00:11:00.600 has aged years and months, the easy confidence 00:11:00.600 --> 00:11:02.639 replaced by something approaching desperation. 00:11:03.480 --> 00:11:06.740 The IRS is disallowing depreciation schedules 00:11:06.740 --> 00:11:10.019 left and right, Jack explains, running his hand 00:11:10.019 --> 00:11:12.480 through his hair. My investors are getting hit 00:11:12.480 --> 00:11:14.980 with massive tax bills on cattle they thought 00:11:14.980 --> 00:11:17.759 were fully written off. Some of them are demanding 00:11:17.759 --> 00:11:21.000 their money back. The mathematics of Jack's situation 00:11:21.000 --> 00:11:23.419 become clear as he walks you through the books. 00:11:23.600 --> 00:11:27.360 He owes over $800 ,000 to breeders who sold him 00:11:27.360 --> 00:11:31.120 cattle on terms. His monthly overhead, the pristine 00:11:31.120 --> 00:11:34.159 facilities, the large staff, the show expenses, 00:11:34.360 --> 00:11:38.460 runs $40 ,000 a month. And his primary revenue 00:11:38.460 --> 00:11:41.179 source, wealthy investors seeking tax shelters, 00:11:41.399 --> 00:11:44.299 has evaporated overnight. You realize you're 00:11:44.299 --> 00:11:46.340 watching the collapse of something that seemed 00:11:46.340 --> 00:11:49.970 invincible just months before. Phone calls from 00:11:49.970 --> 00:11:53.409 creditors interrupt your conversation. Jack's 00:11:53.409 --> 00:11:55.909 assistants handle increasingly hostile calls 00:11:55.909 --> 00:11:58.710 from investors who want out of deals they no 00:11:58.710 --> 00:12:02.470 longer understand. The worst part, Jack confides, 00:12:02.529 --> 00:12:04.990 is that I really believed we were building something 00:12:04.990 --> 00:12:08.870 permanent. These aren't just cattle to me. They're 00:12:08.870 --> 00:12:11.490 the foundation for the next generation of Holstein 00:12:11.490 --> 00:12:14.210 genetics, and now I might have to watch it all 00:12:14.210 --> 00:12:17.720 get liquidated. By winter, You're witnessing 00:12:17.720 --> 00:12:19.840 scenes that would have been unthinkable a year 00:12:19.840 --> 00:12:22.960 earlier. Valuable cattle being sold at emergency 00:12:22.960 --> 00:12:25.960 auctions for fractions of their supposed worth. 00:12:26.679 --> 00:12:29.639 Bull calves that should be future AI sires heading 00:12:29.639 --> 00:12:32.440 to slaughter because Jack needs immediate cash 00:12:32.440 --> 00:12:35.720 to meet payroll. The dairy press, which once 00:12:35.720 --> 00:12:38.519 celebrated Jack as a visionary, now whispers 00:12:38.519 --> 00:12:41.639 about financial irregularities. Established breeders 00:12:41.639 --> 00:12:44.179 who sold him cattle on trust are realizing they 00:12:44.179 --> 00:12:47.250 may never see their final payments. The Schaufs, 00:12:47.289 --> 00:12:50.509 the Browns, dozens of respected families are 00:12:50.509 --> 00:12:54.049 suddenly holding worthless IOUs from a man they 00:12:54.049 --> 00:12:57.169 thought they could trust. But what devastates 00:12:57.169 --> 00:13:00.090 you most is watching generations of careful breeding 00:13:00.090 --> 00:13:03.830 work disappear into financial chaos. These aren't 00:13:03.830 --> 00:13:06.470 just business assets being liquidated. They're 00:13:06.470 --> 00:13:09.230 living genetic treasures, bloodlines that took 00:13:09.230 --> 00:13:12.009 decades to develop, now scattered to the wind 00:13:12.009 --> 00:13:15.649 or worse. Standing in Jack's barn that winter, 00:13:16.009 --> 00:13:18.549 watching him calculate which cattle he can afford 00:13:18.549 --> 00:13:21.289 to feed through the season, you understand you're 00:13:21.289 --> 00:13:23.649 witnessing something that will change the dairy 00:13:23.649 --> 00:13:26.889 industry forever. Not because of what Jack built, 00:13:27.049 --> 00:13:29.610 but because of how spectacularly it's falling 00:13:29.610 --> 00:13:32.809 apart. You're sitting in a conference room at 00:13:32.809 --> 00:13:35.629 the Holstein Association, surrounded by breed 00:13:35.629 --> 00:13:38.250 leaders trying to make sense of what's happening 00:13:38.250 --> 00:13:41.409 to their industry. The numbers on the whiteboard 00:13:41.409 --> 00:13:45.159 tell a sobering story. Cattle values have dropped 00:13:45.159 --> 00:13:49.340 60 % in 18 months. Major breeding programs are 00:13:49.340 --> 00:13:52.759 folding weekly. The speculative bubble that lifted 00:13:52.759 --> 00:13:55.759 all boats is now drowning everyone caught in 00:13:55.759 --> 00:13:58.759 its wake. We're not just talking about money, 00:13:58.899 --> 00:14:01.700 says one veteran breeder, his voice heavy with 00:14:01.700 --> 00:14:04.519 years of experience. We're talking about genetic 00:14:04.519 --> 00:14:08.139 resources that took generations to develop, bloodlines 00:14:08.139 --> 00:14:10.139 that go back to the foundation of the breed, 00:14:10.299 --> 00:14:12.960 and they're being liquidated like commodity corn. 00:14:13.529 --> 00:14:15.950 You listen as the industry tries to diagnose 00:14:15.950 --> 00:14:19.549 what went wrong. The Section 46 tax credits were 00:14:19.549 --> 00:14:22.110 supposed to bring needed capital into dairy breeding. 00:14:22.309 --> 00:14:25.549 Instead, they created a speculative frenzy that 00:14:25.549 --> 00:14:28.169 divorced cattle values from any economic reality. 00:14:28.789 --> 00:14:31.070 Investors who knew nothing about genetics drove 00:14:31.070 --> 00:14:33.950 prices to astronomical levels based purely on 00:14:33.950 --> 00:14:37.269 tax benefits. The human cost is becoming clear. 00:14:38.269 --> 00:14:40.750 Farmers who leveraged their operations to buy 00:14:40.750 --> 00:14:44.840 into the boom are now facing bankruptcy. Banks 00:14:44.840 --> 00:14:47.539 that financed cattle purchases at inflated values 00:14:47.539 --> 00:14:50.759 are sitting on worthless collateral. Insurance 00:14:50.759 --> 00:14:53.600 companies that wrote mortality policies on million 00:14:53.600 --> 00:14:56.860 -dollar cows are hemorrhaging money. But the 00:14:56.860 --> 00:15:00.500 genetic cost may be even higher. You're watching 00:15:00.500 --> 00:15:02.820 as some of the most important bloodlines in Holstein 00:15:02.820 --> 00:15:05.679 history get scattered or destroyed. Cows that 00:15:05.679 --> 00:15:08.139 should be the mothers of future champions are 00:15:08.139 --> 00:15:10.600 being sold at commodity prices to commercial 00:15:10.600 --> 00:15:13.559 dairies where their genetic potential will never 00:15:13.559 --> 00:15:17.600 be realized. The tragedy, explains a geneticist 00:15:17.600 --> 00:15:20.820 from the AIPL, is that superior genetics don't 00:15:20.820 --> 00:15:23.700 care about financial markets. A cow's genetic 00:15:23.700 --> 00:15:26.120 worth isn't determined by what someone paid for 00:15:26.120 --> 00:15:28.539 her. It's determined by what she can produce 00:15:28.539 --> 00:15:32.440 and transmit. But when the whole system collapses, 00:15:32.639 --> 00:15:36.399 those genetics get lost in the wreckage. This 00:15:36.399 --> 00:15:39.350 is where Louis Prange enters the story. You drive 00:15:39.350 --> 00:15:42.129 up the long lane to Elm Park Farms and immediately 00:15:42.129 --> 00:15:45.710 sense something different. Unlike Jack Stuckey's 00:15:45.710 --> 00:15:48.370 showplace operation, this is a working farm. 00:15:48.789 --> 00:15:51.789 Practical buildings, efficient layouts, cattle 00:15:51.789 --> 00:15:54.750 that look healthy rather than pampered. Lewis 00:15:54.750 --> 00:15:56.649 greets you with the measured confidence of a 00:15:56.649 --> 00:15:59.809 man who's seen boom and bust cycles before. He's 00:15:59.809 --> 00:16:02.590 been in the Holstein business for 30 years, long 00:16:02.590 --> 00:16:04.610 enough to know the difference between genuine 00:16:04.610 --> 00:16:08.029 genetic value and speculative frenzy. And right 00:16:08.029 --> 00:16:10.539 now, he's seeing an opportunity that others are 00:16:10.539 --> 00:16:13.860 missing. Everyone's running away from this mess, 00:16:14.120 --> 00:16:16.419 Lewis explains as you walk through his barns. 00:16:16.539 --> 00:16:19.659 But superior genetics don't disappear just because 00:16:19.659 --> 00:16:22.820 the financial markets collapsed. Those bloodlines 00:16:22.820 --> 00:16:25.840 are still there. They're just trapped in a bankruptcy 00:16:25.840 --> 00:16:30.220 court instead of a show ring. You realize you're 00:16:30.220 --> 00:16:32.139 talking to someone who understands that this 00:16:32.139 --> 00:16:35.080 crisis, as devastating as it is, also represents 00:16:35.080 --> 00:16:38.340 the buying opportunity of a lifetime. Not for 00:16:38.340 --> 00:16:41.200 speculation, but for genuine genetic improvement. 00:16:42.080 --> 00:16:44.539 The kind of cattle that were selling for six 00:16:44.539 --> 00:16:47.679 figures 18 months ago can now be acquired for 00:16:47.679 --> 00:16:50.220 reasonable prices if you know what you're looking 00:16:50.220 --> 00:16:54.860 for and have the patience to rebuild. You return 00:16:54.860 --> 00:16:57.360 to the Stuckey farm on a gray February morning 00:16:57.360 --> 00:17:00.539 and barely recognize the place. The manicured 00:17:00.539 --> 00:17:03.240 perfection of just two years ago has given way 00:17:03.240 --> 00:17:07.009 to the grim reality of financial collapse. Equipment 00:17:07.009 --> 00:17:09.750 sits idle for lack of maintenance money. Feed 00:17:09.750 --> 00:17:12.529 bunkers that once held the finest rations now 00:17:12.529 --> 00:17:15.750 contain whatever Jack can afford. The staff has 00:17:15.750 --> 00:17:18.710 been cut to a skeleton crew. Jack meets you at 00:17:18.710 --> 00:17:21.029 the barn, and the transformation is shocking. 00:17:21.890 --> 00:17:24.450 The smooth -talking salesman has been replaced 00:17:24.450 --> 00:17:27.529 by a man who looks like he hasn't slept in weeks. 00:17:27.849 --> 00:17:30.930 His eyes hold the hollow desperation of someone 00:17:30.930 --> 00:17:35.009 watching his life's work disintegrate. I can't 00:17:35.009 --> 00:17:37.480 make payroll next week. Jack tells you without 00:17:37.480 --> 00:17:40.579 preamble. The investors who haven't sued me have 00:17:40.579 --> 00:17:43.519 stopped returning my calls. The bank wants to 00:17:43.519 --> 00:17:46.339 call the note, and I've got $2 million worth 00:17:46.339 --> 00:17:49.519 of cattle that won't bring $200 ,000 at auction. 00:17:50.039 --> 00:17:52.680 You walk through barns that once housed Holstein 00:17:52.680 --> 00:17:55.519 royalty, now filled with animals whose care is 00:17:55.519 --> 00:17:58.940 being rationed by financial necessity. Feed is 00:17:58.940 --> 00:18:01.480 cut to maintenance levels. Breeding programs 00:18:01.480 --> 00:18:03.960 that should be planning the next generation are 00:18:03.960 --> 00:18:07.380 focused on simple survival. The legal situation 00:18:07.380 --> 00:18:10.799 is becoming a nightmare. Creditors who sold jack 00:18:10.799 --> 00:18:14.559 cattle on terms are filing liens. Investors who 00:18:14.559 --> 00:18:16.880 discovered their tax benefits were disallowed 00:18:16.880 --> 00:18:19.900 are demanding refunds. Insurance companies are 00:18:19.900 --> 00:18:23.019 investigating mortality claims. The simple business 00:18:23.019 --> 00:18:26.279 model that seemed so elegant in 1982 has become 00:18:26.279 --> 00:18:29.539 a tangle of competing legal claims. The worst 00:18:29.539 --> 00:18:32.700 part, Jack says, his voice cracking, is watching 00:18:32.700 --> 00:18:35.569 the genetics get destroyed. These aren't just 00:18:35.569 --> 00:18:38.089 my cattle, they're the genetic heritage of the 00:18:38.089 --> 00:18:40.589 breed, and they're being liquidated like used 00:18:40.589 --> 00:18:44.329 equipment. You witness the desperation firsthand 00:18:44.329 --> 00:18:46.650 when Jack makes the decision that will haunt 00:18:46.650 --> 00:18:50.009 the industry for years. Rather than sell breeding 00:18:50.009 --> 00:18:52.950 stock at devastating losses, he starts sending 00:18:52.950 --> 00:18:55.869 young bulls, animals that should be future AI 00:18:55.869 --> 00:18:59.549 sires, to slaughter for immediate cash. The sound 00:18:59.549 --> 00:19:02.029 of those trucks leaving the farm carries away 00:19:02.029 --> 00:19:04.420 genetic potential. that can never be recovered. 00:19:05.759 --> 00:19:09.160 The Dairy Press, which once celebrated Jack as 00:19:09.160 --> 00:19:12.079 a visionary, now covers his collapse with the 00:19:12.079 --> 00:19:14.839 fascination usually reserved for natural disasters. 00:19:15.359 --> 00:19:18.220 Headlines speak of fraud and embezzlement, though 00:19:18.220 --> 00:19:21.440 the reality is more complex. Jack wasn't a criminal. 00:19:21.619 --> 00:19:24.400 He was a dreamer who built a business model on 00:19:24.400 --> 00:19:28.059 foundations of sand. You sit in bankruptcy court 00:19:28.059 --> 00:19:31.619 as Jack's empire is officially dismantled. The 00:19:31.619 --> 00:19:34.480 judge's gavel falls with the finality of a coffin 00:19:34.480 --> 00:19:36.859 lid, and you understand you're witnessing the 00:19:36.859 --> 00:19:40.940 end of an era. The Stuckey prefix, which graced 00:19:40.940 --> 00:19:42.859 some of the most famous Holsteins in history, 00:19:43.099 --> 00:19:45.619 will now be associated with financial collapse 00:19:45.619 --> 00:19:49.680 rather than genetic excellence. The asset liquidation 00:19:49.680 --> 00:19:52.940 is heartbreaking to watch. Cattle that cost hundreds 00:19:52.940 --> 00:19:55.140 of thousands are being valued at commercial prices. 00:19:55.980 --> 00:19:58.819 Embryos from elite matings are treated like surplus 00:19:58.819 --> 00:20:02.390 inventory. Genetic potential that took generations 00:20:02.390 --> 00:20:05.490 to accumulate is being dispersed like dust in 00:20:05.490 --> 00:20:08.670 the wind. But in the back of the courtroom, you 00:20:08.670 --> 00:20:11.809 notice Louis Prange taking notes. While everyone 00:20:11.809 --> 00:20:14.990 else sees disaster, he sees opportunity, and 00:20:14.990 --> 00:20:17.230 his presence suggests that this story isn't over, 00:20:17.349 --> 00:20:20.690 it's just beginning a new chapter. You sit across 00:20:20.690 --> 00:20:23.329 from Louis Prange in his farm office, watching 00:20:23.329 --> 00:20:26.069 him study genetic charts and financial documents 00:20:26.069 --> 00:20:29.140 by lamplight. The contrast with Jack Stuckey 00:20:29.140 --> 00:20:32.400 couldn't be more stark. Where Jack was all charm 00:20:32.400 --> 00:20:35.359 and big dreams, Louis is methodical, analytical, 00:20:35.740 --> 00:20:39.579 focused on facts rather than fantasies. Look 00:20:39.579 --> 00:20:42.400 at this pedigree, Louis says, pointing to a breeding 00:20:42.400 --> 00:20:45.900 chart for Nandette TT Speckle Red. Triple threat 00:20:45.900 --> 00:20:48.700 breeding, deep maternal line, multiple excellent 00:20:48.700 --> 00:20:51.660 daughters. The genetics haven't changed just 00:20:51.660 --> 00:20:54.319 because the financial markets collapsed. If anything, 00:20:54.559 --> 00:20:56.759 the crash has made these bloodlines more valuable. 00:20:57.210 --> 00:21:00.589 not less. You realize you're watching a master 00:21:00.589 --> 00:21:04.109 geneticist at work. Louis has spent decades studying 00:21:04.109 --> 00:21:06.869 Holstein pedigrees, understanding which bloodlines 00:21:06.869 --> 00:21:09.190 consistently produce excellence and which are 00:21:09.190 --> 00:21:12.349 just fashionable names. The investor era created 00:21:12.349 --> 00:21:14.750 a market where financial speculation mattered 00:21:14.750 --> 00:21:18.069 more than genetic merit. Now, with that market 00:21:18.069 --> 00:21:20.970 collapsed, true breeding value is visible again. 00:21:21.829 --> 00:21:24.329 The problem with the investor model, Louis explains, 00:21:24.690 --> 00:21:27.569 was that it valued cattle like stocks instead 00:21:27.569 --> 00:21:31.230 of genetic resources. People bought names and 00:21:31.230 --> 00:21:33.430 show records without understanding transmission 00:21:33.430 --> 00:21:37.109 rates or breeding compatibility. They were speculating 00:21:37.109 --> 00:21:39.829 on reputation instead of investing in genetic 00:21:39.829 --> 00:21:43.630 improvement. Louis shows you his analysis of 00:21:43.630 --> 00:21:46.609 the Stuckey dispersal. Hidden among the financial 00:21:46.609 --> 00:21:49.009 wreckage are some of the most genetically valuable 00:21:49.009 --> 00:21:52.230 Holstein cows in North America. Cows whose breeding 00:21:52.230 --> 00:21:55.029 records show consistent transmission of desirable 00:21:55.029 --> 00:21:58.269 traits. Bloodlines that could form the foundation 00:21:58.269 --> 00:22:01.990 of future genetic progress. Take Speckle Red, 00:22:02.130 --> 00:22:05.309 he says, pulling out production records. Multiple 00:22:05.309 --> 00:22:08.190 all -American honors, consistent high butterfat, 00:22:08.369 --> 00:22:11.450 excellent type transmission. She's proven her 00:22:11.450 --> 00:22:14.170 genetic worth over multiple generations. The 00:22:14.170 --> 00:22:16.369 fact that she's tied up in bankruptcy doesn't 00:22:16.369 --> 00:22:19.210 change her chromosomes. You understand that Lewis 00:22:19.210 --> 00:22:22.069 sees something others are missing. The financial 00:22:22.069 --> 00:22:24.730 collapse has created a rare opportunity to acquire 00:22:24.730 --> 00:22:28.190 proven genetics at rational prices. But more 00:22:28.190 --> 00:22:30.630 than that, it's created an opportunity to build 00:22:30.630 --> 00:22:33.470 breeding programs based on genetic merit rather 00:22:33.470 --> 00:22:37.029 than speculative value. You accompany Lewis to 00:22:37.029 --> 00:22:39.549 his meeting with the bankruptcy trustee, watching 00:22:39.549 --> 00:22:42.619 him negotiate not just for cattle, but for genetic 00:22:42.619 --> 00:22:46.220 opportunity. His proposal is elegantly simple. 00:22:46.619 --> 00:22:48.819 Lease the best cows from the Stuckey estate, 00:22:49.119 --> 00:22:52.000 flush them to proven sires, and share the proceeds 00:22:52.000 --> 00:22:54.059 between the estate and his breeding program. 00:22:54.779 --> 00:22:57.819 The trustee's job is to maximize recovery for 00:22:57.819 --> 00:23:01.160 creditors, Lewis explains afterward. These cattle 00:23:01.160 --> 00:23:03.640 are worthless if they're just liquidated at commercial 00:23:03.640 --> 00:23:08.059 prices. But if we can realize their genetic potential 00:23:08.059 --> 00:23:10.500 through strategic breeding, everyone benefits. 00:23:13.230 --> 00:23:15.750 The deal Louis structures is a masterpiece of 00:23:15.750 --> 00:23:18.990 practical genetics and financial necessity. He 00:23:18.990 --> 00:23:22.470 takes responsibility for all costs, feed, veterinary 00:23:22.470 --> 00:23:25.910 care, facility maintenance. In return, he gets 00:23:25.910 --> 00:23:28.170 control of breeding decisions and first option 00:23:28.170 --> 00:23:31.349 on all resulting offspring. But the most important 00:23:31.349 --> 00:23:34.349 element of the deal isn't financial, it's genetic. 00:23:34.569 --> 00:23:37.309 Louis has identified specific matings that could 00:23:37.309 --> 00:23:40.349 produce breakthrough individuals. Corrective 00:23:40.349 --> 00:23:43.029 crosses that balance production with type. proven 00:23:43.029 --> 00:23:45.849 bloodlines with complementary strengths and weaknesses. 00:23:46.849 --> 00:23:49.730 Genetic progress happens through systematic improvement 00:23:49.730 --> 00:23:53.529 over generations, Lewis tells you. The investor 00:23:53.529 --> 00:23:56.569 era created a lot of noise but very little actual 00:23:56.569 --> 00:23:59.990 advancement. Now we have the chance to make real 00:23:59.990 --> 00:24:02.349 breeding progress with some of the best genetic 00:24:02.349 --> 00:24:06.990 material ever assembled. You watch Lewis study 00:24:06.990 --> 00:24:09.450 breeding charts late into the night, calculating 00:24:09.450 --> 00:24:12.559 generation intervals, analyzing proven transmission 00:24:12.559 --> 00:24:15.400 rates, planning matings that could influence 00:24:15.400 --> 00:24:18.559 the breed for decades. This isn't speculation. 00:24:18.900 --> 00:24:22.000 It's scientific breeding applied to genetic resources 00:24:22.000 --> 00:24:24.579 that would have been impossible to acquire under 00:24:24.579 --> 00:24:27.220 normal circumstances. And at the center of his 00:24:27.220 --> 00:24:31.480 plans is one specific mating, Nandette TT, speckle 00:24:31.480 --> 00:24:34.680 red to Tomar black star, a corrective cross that 00:24:34.680 --> 00:24:37.200 could combine proven type transmission with outstanding 00:24:37.200 --> 00:24:40.240 production genetics. a mating that could produce 00:24:40.240 --> 00:24:43.420 something special. If only he can get the semen. 00:24:44.339 --> 00:24:47.339 You arrive at Elm Park Farms on a crisp morning 00:24:47.339 --> 00:24:49.940 in early March, sensing that something important 00:24:49.940 --> 00:24:52.240 is about to happen. Louie has been planning this 00:24:52.240 --> 00:24:55.720 mating for months, Nandette TT Speckle Red to 00:24:55.720 --> 00:24:59.519 Tomar Blackstar. On paper, it's the kind of corrective 00:24:59.519 --> 00:25:01.660 cross that could produce a truly exceptional 00:25:01.660 --> 00:25:05.309 individual. Speckle brings proven type transmission, 00:25:05.609 --> 00:25:08.109 excellent mammary systems, and the structural 00:25:08.109 --> 00:25:10.809 correctness that made her a multiple All -American. 00:25:11.349 --> 00:25:14.230 Blackstar contributes incredible production genetics. 00:25:14.529 --> 00:25:17.549 His daughters consistently milk above 40 ,000 00:25:17.549 --> 00:25:20.869 pounds with strong components. Together, they 00:25:20.869 --> 00:25:23.509 could produce an animal that combines the best 00:25:23.509 --> 00:25:26.950 of both bloodlines. But there's a complication. 00:25:27.269 --> 00:25:30.539 Even in bankruptcy, Jack Stuckey retains strong 00:25:30.539 --> 00:25:33.160 opinions about which sires should be used on 00:25:33.160 --> 00:25:35.920 his former cattle. His preferences run toward 00:25:35.920 --> 00:25:38.579 fashionable names rather than corrective genetics. 00:25:38.920 --> 00:25:42.339 He wants Rosafi Citation R, or Brown Dale Commissioner, 00:25:42.680 --> 00:25:45.339 bulls with show ring glamour but questionable 00:25:45.339 --> 00:25:47.940 genetic complementarity for this particular mating. 00:25:48.279 --> 00:25:50.839 You watch Lewis navigate this diplomatic challenge 00:25:50.839 --> 00:25:53.579 with patience that comes from decades in the 00:25:53.579 --> 00:25:56.660 breeding business. He explains pedigree analysis, 00:25:57.259 --> 00:25:59.920 discusses transmission patterns, outlines the 00:25:59.920 --> 00:26:03.200 genetic logic behind the Black Star Cross. But 00:26:03.200 --> 00:26:05.920 Jack remains stubborn, clinging to breeding decisions 00:26:05.920 --> 00:26:09.740 based on reputation rather than science. The 00:26:09.740 --> 00:26:11.819 crucial moment comes during a phone call you 00:26:11.819 --> 00:26:14.900 witness from Luis's office. Jack has finally 00:26:14.900 --> 00:26:17.259 agreed to authorize the Black Star breeding, 00:26:17.400 --> 00:26:19.619 and Luis is coordinating the semen shipment. 00:26:20.000 --> 00:26:22.940 You can hear the relief in Luis's voice as he 00:26:22.940 --> 00:26:26.670 confirms the details. Perfect, Jack. Just ship 00:26:26.670 --> 00:26:29.230 me three units of Blackstar, and we'll get Speckle 00:26:29.230 --> 00:26:31.990 flushed next week. This could be the mating that 00:26:31.990 --> 00:26:35.730 makes both our careers. Then comes the phone 00:26:35.730 --> 00:26:38.490 call that changes everything. Two days later, 00:26:38.650 --> 00:26:41.009 Jack's voice on the phone carries an embarrassment 00:26:41.009 --> 00:26:44.329 that's almost palpable. Louie, I've got a problem. 00:26:44.450 --> 00:26:47.529 I can't send you the Blackstar semen. Louis faced 00:26:47.529 --> 00:26:50.529 Titans with concern. What do you mean? We had 00:26:50.529 --> 00:26:54.690 an agreement. My semen tank ran dry. The words 00:26:54.690 --> 00:26:57.609 hang in the air like a verdict. Months of planning, 00:26:57.769 --> 00:27:00.589 genetic analysis, and careful negotiation reduced 00:27:00.589 --> 00:27:03.309 to the simple reality that Jack's financial crisis 00:27:03.309 --> 00:27:05.670 has extended even to basic breeding supplies. 00:27:06.329 --> 00:27:08.750 The temperature controller on his semen tank 00:27:08.750 --> 00:27:11.569 failed weeks ago, and he couldn't afford repairs. 00:27:12.309 --> 00:27:15.369 Thousands of units of premium semen, genetic 00:27:15.369 --> 00:27:17.990 material worth hundreds of thousands of dollars, 00:27:18.109 --> 00:27:20.589 destroyed by a maintenance issue he couldn't 00:27:20.589 --> 00:27:24.000 fund. You watch Louis process this setback. his 00:27:24.000 --> 00:27:27.000 mind already shifting to alternatives. This is 00:27:27.000 --> 00:27:29.400 the moment when careful planning meets chaotic 00:27:29.400 --> 00:27:33.019 reality, when scientific breeding runs up against 00:27:33.019 --> 00:27:37.319 financial desperation. Well? Luis says after 00:27:37.319 --> 00:27:39.880 a moment of consideration, I guess we go with 00:27:39.880 --> 00:27:43.619 Blackstar after all. The irony isn't lost on 00:27:43.619 --> 00:27:46.420 either of them. The bull Luis originally wanted 00:27:46.420 --> 00:27:49.460 to use, the one that makes the most genetic sense 00:27:49.460 --> 00:27:52.160 for this particular mating, becomes the default 00:27:52.160 --> 00:27:55.369 choice. because all other options have been eliminated 00:27:55.369 --> 00:27:58.869 by bankruptcy and neglect. You realize you're 00:27:58.869 --> 00:28:00.890 witnessing one of those moments where accident 00:28:00.890 --> 00:28:03.869 and preparation intersect to create possibility. 00:28:04.589 --> 00:28:07.309 Louis has the genetic knowledge to recognize 00:28:07.309 --> 00:28:10.410 a good mating when he sees it. Jack's financial 00:28:10.410 --> 00:28:13.109 collapse has created the opportunity to access 00:28:13.109 --> 00:28:16.130 genetic material that would normally be unavailable. 00:28:16.309 --> 00:28:19.730 And now, mechanical failure has forced them toward 00:28:19.730 --> 00:28:22.190 what was probably the optimal breeding decision 00:28:22.190 --> 00:28:26.910 all along. Sometimes, Louis tells you as he schedules 00:28:26.910 --> 00:28:29.609 the flush, the best breeding decisions happen 00:28:29.609 --> 00:28:32.730 when all your other choices get eliminated. This 00:28:32.730 --> 00:28:35.170 mating was right from the beginning. We just 00:28:35.170 --> 00:28:38.710 took a roundabout way of getting there. As you 00:28:38.710 --> 00:28:41.190 leave Elm Park Farms that day, you can't shake 00:28:41.190 --> 00:28:43.289 the feeling that you've just witnessed a turning 00:28:43.289 --> 00:28:46.009 point. Not just in the careers of Louis Prange 00:28:46.009 --> 00:28:48.400 and Jack Stuckey, but in the genetic direction 00:28:48.400 --> 00:28:52.559 of the Holstein breed itself. You arrive at Elm 00:28:52.559 --> 00:28:55.519 Park Farms on a cold but promising March morning, 00:28:55.680 --> 00:28:58.680 exactly one year after that fateful phone call 00:28:58.680 --> 00:29:01.980 about the empty semen tank. The embryo flush 00:29:01.980 --> 00:29:04.619 of speckle red to black star produced several 00:29:04.619 --> 00:29:07.920 viable embryos, and today, one of them is scheduled 00:29:07.920 --> 00:29:10.859 to be born. Lewis meets you at the barn with 00:29:10.859 --> 00:29:13.400 the quiet satisfaction of a man who's seen his 00:29:13.400 --> 00:29:16.690 careful planning come to fruition. The surrogate 00:29:16.690 --> 00:29:19.769 mother, a reliable recipient cow chosen for her 00:29:19.769 --> 00:29:22.049 maternal abilities rather than her genetics, 00:29:22.250 --> 00:29:24.569 is showing all the signs of imminent delivery. 00:29:25.509 --> 00:29:28.210 Genetics is ultimately about patience, Louis 00:29:28.210 --> 00:29:31.710 reflects as you wait. You can do all the pedigree 00:29:31.710 --> 00:29:34.349 analysis in the world, but eventually you have 00:29:34.349 --> 00:29:36.789 to wait for nature to reveal whether your theories 00:29:36.789 --> 00:29:40.509 were correct. The calf that emerges into the 00:29:40.509 --> 00:29:43.410 world on this March morning doesn't look particularly 00:29:43.410 --> 00:29:47.000 exceptional. Dark, sturdy, showing the frame 00:29:47.000 --> 00:29:50.220 that suggests growth potential. But you're witnessing 00:29:50.220 --> 00:29:52.380 the birth of an animal that will reshape the 00:29:52.380 --> 00:29:54.700 Holstein breed, though none of you know it yet. 00:29:55.920 --> 00:29:58.579 She's got her mother's refinement and what looks 00:29:58.579 --> 00:30:01.660 like her father's scale, Lewis observes, running 00:30:01.660 --> 00:30:05.380 his hands over the newborn calf. Good bone, nice 00:30:05.380 --> 00:30:07.900 length, dairy character, but the real test will 00:30:07.900 --> 00:30:11.279 be how she develops and what she transmits. You 00:30:11.279 --> 00:30:14.250 return to visit the calf. now named Stooky Elm 00:30:14.250 --> 00:30:17.369 Park Black Rose, periodically over the next 18 00:30:17.369 --> 00:30:20.049 months, watching her develop into the kind of 00:30:20.049 --> 00:30:23.210 animal that makes geneticists take notice. The 00:30:23.210 --> 00:30:25.690 corrective breeding strategy is working exactly 00:30:25.690 --> 00:30:29.269 as Lewis predicted. She combines her sire's production 00:30:29.269 --> 00:30:32.190 genetics with her dam's structural correctness 00:30:32.190 --> 00:30:35.069 in ways that seem almost too good to be true. 00:30:35.609 --> 00:30:38.430 By the time she's old enough for her first classification, 00:30:38.890 --> 00:30:41.490 you understand you're looking at something special. 00:30:42.039 --> 00:30:46.000 The evaluator's score of EX96 places her among 00:30:46.000 --> 00:30:48.740 the most structurally perfect Holsteins ever 00:30:48.740 --> 00:30:51.279 assessed. But more impressive is her production 00:30:51.279 --> 00:30:55.140 record, over 42 ,000 pounds of milk with strong 00:30:55.140 --> 00:30:58.079 components, exactly what the Black Star Cross 00:30:58.079 --> 00:31:01.759 was designed to achieve. The sale catalog describes 00:31:01.759 --> 00:31:05.519 Lot 47 as an 18 -month -old Black Star daughter 00:31:05.519 --> 00:31:09.460 with excellent type and strong pedigree. The 00:31:09.460 --> 00:31:12.539 bidding starts at $2 ,000. reflecting the depressed 00:31:12.539 --> 00:31:15.519 market values that still exist two years after 00:31:15.519 --> 00:31:18.619 the investor crash. But you notice certain experienced 00:31:18.619 --> 00:31:21.960 breeders paying close attention. Mark Ruth, the 00:31:21.960 --> 00:31:24.440 Wisconsin cattle fitter, studies the heifer with 00:31:24.440 --> 00:31:27.099 the eye of someone who's seen thousands of Holstein 00:31:27.099 --> 00:31:31.259 females. Deep -ribbed, wide -rumped, just the 00:31:31.259 --> 00:31:33.619 kind of frame that develops into something special, 00:31:33.940 --> 00:31:37.460 he tells his partner Mark Van Mersbergen. The 00:31:37.460 --> 00:31:40.980 final bid of $4 ,500 seems almost anticlimactic, 00:31:41.400 --> 00:31:43.519 given what you know about this animal's potential. 00:31:43.839 --> 00:31:46.160 But you're watching the intersection of depressed 00:31:46.160 --> 00:31:49.700 markets and genuine genetic value, the kind of 00:31:49.700 --> 00:31:51.980 opportunity that comes along once in a generation. 00:31:53.220 --> 00:31:56.140 As Black Rose loads onto the trailer bound for 00:31:56.140 --> 00:31:58.579 her new home in Wisconsin, you realize you're 00:31:58.579 --> 00:32:01.240 witnessing the end of one chapter and the beginning 00:32:01.240 --> 00:32:04.470 of another. The financial chaos that created 00:32:04.470 --> 00:32:07.430 her opportunity to exist has also created the 00:32:07.430 --> 00:32:10.230 opportunity for her genetic potential to be realized 00:32:10.230 --> 00:32:13.130 by breeders who value substance over speculation. 00:32:13.829 --> 00:32:17.390 The validation comes gradually, then all at once. 00:32:17.769 --> 00:32:20.589 All -American honors as a junior two -year -old 00:32:20.589 --> 00:32:23.029 and three -year -old, grand champion at the Royal 00:32:23.029 --> 00:32:26.509 Winter Fair in 1995, production records that 00:32:26.509 --> 00:32:29.430 consistently exceed 40 ,000 pounds with high 00:32:29.430 --> 00:32:33.200 components, and most importantly, offspring that 00:32:33.200 --> 00:32:35.779 not only match her excellence, but transmit it 00:32:35.779 --> 00:32:39.420 to the next generation. You stand ringside at 00:32:39.420 --> 00:32:41.960 the Royal Winterfair as Black Rose accepts her 00:32:41.960 --> 00:32:44.579 grand champion banner, understanding that you're 00:32:44.579 --> 00:32:47.019 witnessing the vindication of Louis Prange's 00:32:47.019 --> 00:32:50.640 vision. The cow born from bankruptcy court chaos 00:32:50.640 --> 00:32:53.619 has become a genetic icon, proving that superior 00:32:53.619 --> 00:32:56.099 breeding decisions eventually overcome financial 00:32:56.099 --> 00:32:59.299 turmoil. But this is just the beginning of the 00:32:59.299 --> 00:33:02.099 story. The real measure of Black Rose's impact 00:33:02.099 --> 00:33:04.779 won't be her individual achievements. It will 00:33:04.779 --> 00:33:07.339 be the dynasty she establishes and the genetic 00:33:07.339 --> 00:33:09.680 influence that flows through generations yet 00:33:09.680 --> 00:33:13.640 to come. You visit breeding facilities across 00:33:13.640 --> 00:33:16.500 North America and begin to understand the scope 00:33:16.500 --> 00:33:19.900 of what Black Rose has set in motion. Her sons 00:33:19.900 --> 00:33:22.599 are becoming influential sires in AI programs. 00:33:22.940 --> 00:33:25.480 Her daughters are establishing new genetic lines 00:33:25.480 --> 00:33:28.630 in leading herds. The corrective breeding decision 00:33:28.630 --> 00:33:31.730 that Louis Prange made in desperation has created 00:33:31.730 --> 00:33:34.710 a genetic explosion. Indian head red marker, 00:33:34.950 --> 00:33:38.329 one of Black Rose's sons, stamps daughters with 00:33:38.329 --> 00:33:41.509 incredible frame and capacity. You watch his 00:33:41.509 --> 00:33:43.529 offspring dominate show rings and production 00:33:43.529 --> 00:33:46.289 contests, though his genetic proof reveals the 00:33:46.289 --> 00:33:49.109 complexity of breeding progress, extreme strength 00:33:49.109 --> 00:33:51.470 coupled with utter challenges that require careful 00:33:51.470 --> 00:33:55.569 mate selection. The Black Rose sons aren't easy 00:33:55.569 --> 00:33:58.869 to use. explains a geneticist at Select Sires. 00:33:59.109 --> 00:34:02.269 They give you incredible power and frame, but 00:34:02.269 --> 00:34:04.450 you have to be smart about correcting their weaknesses. 00:34:05.049 --> 00:34:07.809 They're specialized tools, not general -purpose 00:34:07.809 --> 00:34:10.690 sires. But it's through her daughters that Black 00:34:10.690 --> 00:34:14.329 Rose's most enduring influence flows. Rosedale 00:34:14.329 --> 00:34:16.869 Leigh Ann becomes the maternal link to what will 00:34:16.869 --> 00:34:19.389 be the most famous red and white Holstein in 00:34:19.389 --> 00:34:23.070 history. Markwell leader Rose produces sons that 00:34:23.070 --> 00:34:24.989 influence breeding programs internationally. 00:34:25.849 --> 00:34:28.949 The culmination comes at the 2005 World Dairy 00:34:28.949 --> 00:34:32.789 Expo when Lavender Ruby Redrose Red, Black Rose's 00:34:32.789 --> 00:34:34.929 great -granddaughter, accomplishes something 00:34:34.929 --> 00:34:37.829 that seemed impossible. She becomes the first 00:34:37.829 --> 00:34:40.829 and only red and white Holstein ever named Supreme 00:34:40.829 --> 00:34:44.050 Champion over all breeds at the world's most 00:34:44.050 --> 00:34:47.449 prestigious dairy show. You stand in the arena 00:34:47.449 --> 00:34:49.489 as the announcement echoes through the packed 00:34:49.489 --> 00:34:51.989 Coliseum, understanding that you're witnessing 00:34:51.989 --> 00:34:55.150 the peak moment of a genetic dynasty. that began 00:34:55.150 --> 00:34:59.130 in bankruptcy court 15 years earlier. The bloodline 00:34:59.130 --> 00:35:01.949 that emerged from financial chaos has achieved 00:35:01.949 --> 00:35:05.750 the ultimate validation. But Ridge Rose's championship 00:35:05.750 --> 00:35:08.090 represents more than individual achievement. 00:35:08.670 --> 00:35:11.730 It demonstrates the power of systematic genetic 00:35:11.730 --> 00:35:15.190 improvement over multiple generations. Each mating 00:35:15.190 --> 00:35:18.190 decision, each selection choice, each breeding 00:35:18.190 --> 00:35:21.130 strategy has contributed to this moment of triumph. 00:35:22.030 --> 00:35:24.789 The impact spreads globally through sons like 00:35:24.789 --> 00:35:27.570 Ladino Park Talent, who becomes Australia's most 00:35:27.570 --> 00:35:31.230 successful sire export. His semen sells in over 00:35:31.230 --> 00:35:34.369 40 countries, carrying Black Rose genetics to 00:35:34.369 --> 00:35:37.429 dairy operations from New Zealand to Japan to 00:35:37.429 --> 00:35:40.449 Germany. The genetic influence that began with 00:35:40.449 --> 00:35:43.150 one corrective cross in Wisconsin now shapes 00:35:43.150 --> 00:35:46.329 Holstein breeding worldwide. You visit herds 00:35:46.329 --> 00:35:48.710 in different countries and see the same patterns 00:35:48.710 --> 00:35:51.409 repeating. Black Rose descendants consistently 00:35:51.409 --> 00:35:54.630 producing superior offspring, contributing to 00:35:54.630 --> 00:35:57.409 both show ring success and commercial profitability. 00:35:57.909 --> 00:36:00.710 The genetic resilience that Louis Prange recognized 00:36:00.710 --> 00:36:04.050 has proven itself across diverse climates, management 00:36:04.050 --> 00:36:07.349 systems, and breeding objectives. The scientific 00:36:07.349 --> 00:36:10.230 validation comes through genomic analysis that 00:36:10.230 --> 00:36:13.409 wasn't available when Black Rose was born. Modern 00:36:13.409 --> 00:36:16.489 genetic evaluation confirms what practical breeders 00:36:16.489 --> 00:36:19.539 observed. Her chromosomes carried combinations 00:36:19.539 --> 00:36:22.739 of favorable alleles that consistently improved 00:36:22.739 --> 00:36:25.360 offspring performance across multiple traits. 00:36:25.820 --> 00:36:28.340 When we look at Black Rose's genetic profile 00:36:28.340 --> 00:36:31.139 today, explains a researcher at the Council on 00:36:31.139 --> 00:36:33.900 Dairy Cattle Breeding, we can see why she was 00:36:33.900 --> 00:36:36.960 so successful as a transmitting female. She carried 00:36:36.960 --> 00:36:39.300 rare combinations of genes that improved milk 00:36:39.300 --> 00:36:42.340 production, structural correctness, and reproductive 00:36:42.340 --> 00:36:46.489 efficiency simultaneously. The technology that 00:36:46.489 --> 00:36:50.070 allows this analysis didn't exist in 1990, but 00:36:50.070 --> 00:36:52.690 the genetic principles Louis Prange applied were 00:36:52.690 --> 00:36:56.170 sound. Corrective breeding, systematic selection, 00:36:56.469 --> 00:36:59.590 and long -term genetic planning produced results 00:36:59.590 --> 00:37:02.530 that modern science can now explain and predict. 00:37:02.989 --> 00:37:05.769 You walk through a modern dairy facility equipped 00:37:05.769 --> 00:37:08.829 with robotic milking systems, automated feeding, 00:37:09.050 --> 00:37:12.550 and real -time genetic monitoring. The technology 00:37:12.550 --> 00:37:14.949 would seem like science fiction to the farmers 00:37:14.949 --> 00:37:18.710 of 1990, but the genetic principles haven't changed. 00:37:19.010 --> 00:37:21.730 And chances are, many of the cows you're looking 00:37:21.730 --> 00:37:24.429 at carry Black Rose genetics in their pedigrees. 00:37:24.630 --> 00:37:28.269 About 15 % of our herd traces back to Black Rose 00:37:28.269 --> 00:37:30.869 bloodlines, the farm manager explains as you 00:37:30.869 --> 00:37:33.789 tour the facilities. Not because we're chasing 00:37:33.789 --> 00:37:36.210 pedigree fashion, but because those genetics 00:37:36.210 --> 00:37:38.750 consistently produce the kind of cows that work 00:37:38.750 --> 00:37:42.059 in our system. High production, good longevity, 00:37:42.280 --> 00:37:46.300 efficient feed conversion. The modern dairy industry 00:37:46.300 --> 00:37:50.179 faces challenges that the farmers of 1985 couldn't 00:37:50.179 --> 00:37:53.460 have imagined. Environmental regulations, carbon 00:37:53.460 --> 00:37:56.619 footprint concerns, precision nutrition, genomic 00:37:56.619 --> 00:38:00.039 selection. But the fundamental need for genetically 00:38:00.039 --> 00:38:03.599 superior cattle remains unchanged, and Black 00:38:03.599 --> 00:38:06.079 Rose Bloodlines continue to contribute to these 00:38:06.079 --> 00:38:09.599 solutions. You review genetic evaluations on 00:38:09.599 --> 00:38:11.860 the farm's computer system, seeing how genomic 00:38:11.860 --> 00:38:14.519 testing now allows breeding decisions that would 00:38:14.519 --> 00:38:16.940 have taken decades to evaluate through traditional 00:38:16.940 --> 00:38:20.000 progeny testing. But the top -ranking females 00:38:20.000 --> 00:38:23.039 still trace back to genetic foundations established 00:38:23.039 --> 00:38:25.539 during the chaos of the investor -era collapse. 00:38:26.400 --> 00:38:29.179 The dynasty continues with animals like Lady 00:38:29.179 --> 00:38:31.579 Rose Caught Your Eye, who represents the modern 00:38:31.579 --> 00:38:35.230 evolution of black rose genetics. Three consecutive 00:38:35.230 --> 00:38:38.409 World Dairy Expo Championships, offspring that 00:38:38.409 --> 00:38:41.849 dominate group classes, genetic consistency that 00:38:41.849 --> 00:38:44.409 rivals the original matriarch. The careful breeding 00:38:44.409 --> 00:38:47.190 strategies that Louis Prange began have been 00:38:47.190 --> 00:38:51.269 refined and amplified by modern technology. The 00:38:51.269 --> 00:38:54.010 way caught your eye transmits is comparable to 00:38:54.010 --> 00:38:56.590 the greats in red and white breeding, notes a 00:38:56.590 --> 00:38:59.050 current industry geneticist. Her consistency 00:38:59.050 --> 00:39:01.860 is incredible. 16 milking daughters classified 00:39:01.860 --> 00:39:06.739 VG 87 or higher, 7 daughters with PTATs above 00:39:06.739 --> 00:39:11.739 4 .0. Placity percent. That's the kind of genetic 00:39:11.739 --> 00:39:14.420 reliability that defines true breeding value. 00:39:15.420 --> 00:39:18.559 You realize that the story isn't finished. It's 00:39:18.559 --> 00:39:20.840 still being written in barns and breeding programs 00:39:20.840 --> 00:39:23.960 around the world. Every mating decision involving 00:39:23.960 --> 00:39:26.780 Black Rose genetics adds another chapter to a 00:39:26.780 --> 00:39:29.300 story that began with financial desperation and 00:39:29.300 --> 00:39:32.280 accidental breeding choices. The tools available 00:39:32.280 --> 00:39:35.260 to today's breeders, genomic testing, embryo 00:39:35.260 --> 00:39:38.599 sexing, reproductive technologies, allow them 00:39:38.599 --> 00:39:41.699 to amplify and direct genetic progress in ways 00:39:41.699 --> 00:39:44.840 that Louis Prange could only dream about. But 00:39:44.840 --> 00:39:47.739 the fundamental principles he applied, corrective 00:39:47.739 --> 00:39:50.880 breeding, long -term planning, systematic improvement, 00:39:51.199 --> 00:39:54.099 remain the foundation of successful genetic programs. 00:39:54.909 --> 00:39:57.769 You sit in your own farm office, studying genetic 00:39:57.769 --> 00:40:00.289 reports and planning breeding decisions for the 00:40:00.289 --> 00:40:03.090 coming season. The tools at your disposal would 00:40:03.090 --> 00:40:06.230 amaze the farmers of 1985. Genomic evaluations 00:40:06.230 --> 00:40:09.309 that predict genetic merit before birth, reproductive 00:40:09.309 --> 00:40:12.869 technologies that multiply elite genetics, market 00:40:12.869 --> 00:40:15.429 information that flows instantaneously around 00:40:15.429 --> 00:40:18.030 the globe. But the lessons from the Black Rose 00:40:18.030 --> 00:40:21.730 story remain profoundly relevant. Financial speculation 00:40:21.730 --> 00:40:25.159 can inflate values beyond reason. But genetic 00:40:25.159 --> 00:40:28.639 worth endures. Crisis can destroy business models 00:40:28.639 --> 00:40:31.760 while creating opportunities for those with vision 00:40:31.760 --> 00:40:35.159 and patience. And sometimes the best decisions 00:40:35.159 --> 00:40:37.880 emerge from having all your other choices eliminated. 00:40:38.440 --> 00:40:40.940 You think about the farmers caught in today's 00:40:40.940 --> 00:40:44.000 economic pressures. Feed costs at historic highs, 00:40:44.199 --> 00:40:46.780 environmental regulations increasing compliance 00:40:46.780 --> 00:40:50.159 costs, labor shortages forcing automation investments. 00:40:50.860 --> 00:40:54.639 Different challenges than 1985 but the same fundamental 00:40:54.639 --> 00:40:57.760 tension between financial reality and genetic 00:40:57.760 --> 00:41:00.920 opportunity. The investor era taught the dairy 00:41:00.920 --> 00:41:02.940 industry that speculative bubbles eventually 00:41:02.940 --> 00:41:06.139 burst, but genetic progress continues across 00:41:06.139 --> 00:41:09.699 economic cycles. The farmers who focused on breeding 00:41:09.699 --> 00:41:12.940 merit rather than market speculation were ultimately 00:41:12.940 --> 00:41:16.059 the ones who profited both financially and genetically. 00:41:16.420 --> 00:41:19.400 As you review your own breeding plans, you carry 00:41:19.400 --> 00:41:22.869 forward the insights from this story. Superior 00:41:22.869 --> 00:41:25.449 genetics are resilient. They survive financial 00:41:25.449 --> 00:41:28.969 crashes, market corrections, and industry transformations. 00:41:29.869 --> 00:41:32.610 Corrective breeding principles work across generations. 00:41:33.250 --> 00:41:36.309 And sometimes, the most important decisions are 00:41:36.309 --> 00:41:38.949 made not in boardrooms or show rings, but in 00:41:38.949 --> 00:41:41.269 the practical wisdom of breeders who understand 00:41:41.269 --> 00:41:43.730 that genetic progress requires both scientific 00:41:43.730 --> 00:41:47.349 knowledge and patient persistence. The story 00:41:47.349 --> 00:41:49.630 of Black Rose reminds you that in agriculture, 00:41:49.909 --> 00:41:53.289 as in life, the best outcomes often emerge from 00:41:53.289 --> 00:41:56.630 the worst circumstances. Financial disaster bred 00:41:56.630 --> 00:41:59.309 genetic gold because someone had the vision to 00:41:59.309 --> 00:42:02.210 see opportunity in crisis and the knowledge to 00:42:02.210 --> 00:42:05.250 act on it. And in barns around the world, that 00:42:05.250 --> 00:42:08.170 legacy continues to unfold, one breeding decision 00:42:08.170 --> 00:42:11.210 at a time. You've been listening to The Bullvine 00:42:11.210 --> 00:42:14.110 Podcast. This episode, when financial disaster 00:42:14.110 --> 00:42:16.989 breeds genetic gold. was produced to highlight 00:42:16.989 --> 00:42:19.789 the enduring lessons from one of dairy history's 00:42:19.789 --> 00:42:23.469 most impactful breeding stories. For more stories 00:42:23.469 --> 00:42:26.130 about the genetics, economics, and people who 00:42:26.130 --> 00:42:29.329 shape our industry, visit us at thebullvine .com. 00:42:29.570 --> 00:42:32.550 Subscribe to the Bullvine Podcast wherever you 00:42:32.550 --> 00:42:35.230 get your podcasts and join the conversation about 00:42:35.230 --> 00:42:37.590 the breeding decisions that matter for your operation. 00:42:37.929 --> 00:42:41.329 Until next time, remember, the best genetics 00:42:41.329 --> 00:42:44.750 survive everything, including financial disasters. 00:42:48.010 --> 00:42:55.090 This is the bullseye, turn the volume high. For 00:42:55.090 --> 00:43:01.730 the icons of the ages, they never will die. From 00:43:01.730 --> 00:43:05.269 the show ring, thunder to the quiet strength 00:43:05.269 --> 00:43:11.610 they knew. Hear their stories now, coming right 00:43:11.610 --> 00:43:21.050 on through. Oh, tell the tale. Legends live here.