WEBVTT 00:00:11.720 --> 00:00:15.060 Breaking free from the chains of the past Where 00:00:15.060 --> 00:00:18.820 truth moves faster than a Holstein calf No law 00:00:18.820 --> 00:00:21.660 waiting on some printed page We're charting new 00:00:21.660 --> 00:00:25.300 ground in the digital age From genomic codes 00:00:25.300 --> 00:00:29.120 to robot facts We cut through the noise, no hold 00:00:29.280 --> 00:00:32.460 them back not your daddy's dairy news tonight 00:00:32.460 --> 00:01:02.810 we're sparking Welcome back to the Boldvine Podcast, 00:01:03.229 --> 00:01:05.150 where we cut through dairy industry noise to 00:01:05.150 --> 00:01:07.590 get you the insights that actually matter for 00:01:07.590 --> 00:01:10.329 your operation. And today, we're diving deep 00:01:10.329 --> 00:01:13.230 into a feature piece about a massive gap in the 00:01:13.230 --> 00:01:16.569 industry. We are talking about $1 million banners 00:01:16.569 --> 00:01:21.150 and $0 judge accountability. Yeah, and before 00:01:21.150 --> 00:01:23.290 we even look at a single data point today, I 00:01:23.290 --> 00:01:25.769 really want you to visualize something. You know, 00:01:25.769 --> 00:01:28.129 it's early morning, maybe 4 a .m. Oh, yeah, the 00:01:28.129 --> 00:01:30.230 absolute best time of day. Right. You're out 00:01:30.230 --> 00:01:32.560 in the yard. The gravel is crunching under your 00:01:32.560 --> 00:01:35.280 boots, and you are hooking up the trailer for 00:01:35.280 --> 00:01:38.680 the upcoming show season. You can literally smell 00:01:38.680 --> 00:01:41.819 the diesel exhaust hanging in the cold air. And 00:01:41.819 --> 00:01:43.560 you hear the cabs shifting around in the back, 00:01:43.640 --> 00:01:46.359 testing that cut gate. Exactly. It's this sensory 00:01:46.359 --> 00:01:48.780 experience that literally every single show family 00:01:48.780 --> 00:01:51.579 knows deep in their bones. But before you plug 00:01:51.579 --> 00:01:53.680 in those taillights and pull the rig out of the 00:01:53.680 --> 00:01:56.200 driveway, there is a fundamental and honestly 00:01:56.200 --> 00:01:59.180 incredibly harsh question you need to ask yourself 00:01:59.180 --> 00:02:02.129 this year. And it's a financial one. It is. Is 00:02:02.129 --> 00:02:04.870 this annual show budget genuinely building your 00:02:04.870 --> 00:02:07.709 herd's balance sheet? Or are you just underwriting 00:02:07.709 --> 00:02:10.669 someone else's marketing brand? Oof. That is 00:02:10.669 --> 00:02:12.629 the question, isn't it? Yeah. When you haul that 00:02:12.629 --> 00:02:14.610 trailer down the highway, are you transporting 00:02:14.610 --> 00:02:18.689 a legitimate agricultural investment? Or are 00:02:18.689 --> 00:02:22.810 you making this massive, incredibly time -consuming 00:02:22.810 --> 00:02:25.490 donation to a system that is essentially stacked 00:02:25.490 --> 00:02:27.719 against you? You know, that question used to 00:02:27.719 --> 00:02:30.120 be something people only mumbled after like a 00:02:30.120 --> 00:02:32.219 few beers at the end of the show. We tucked away 00:02:32.219 --> 00:02:34.939 in the tack room. Exactly. But we have to tackle 00:02:34.939 --> 00:02:37.699 it head on today because it is not just philosophical 00:02:37.699 --> 00:02:40.419 barn chatter anymore. We aren't just talking 00:02:40.419 --> 00:02:44.300 about the spirit of competition or character 00:02:44.300 --> 00:02:46.639 building for the youth. Yeah, not at all. We 00:02:46.639 --> 00:02:49.919 are talking about pure, hard, farm -level economics. 00:02:50.199 --> 00:02:52.340 The landscape of the show ring has fundamentally 00:02:52.340 --> 00:02:54.560 shifted beneath our feet over the last decade, 00:02:54.699 --> 00:02:57.219 and a terrifying number of operations are still 00:02:57.219 --> 00:02:59.580 budgeting and competing like it's, well, like 00:02:59.580 --> 00:03:02.319 it's 1995. Oh, completely. And the feature piece 00:03:02.319 --> 00:03:05.419 we're unpacking today from the bullvine, it lays 00:03:05.419 --> 00:03:08.300 out a contradiction in our industry that is honestly 00:03:08.300 --> 00:03:10.879 staggering when you look at it in the cold light 00:03:10.879 --> 00:03:13.960 of day. We have exhibitors operating under an 00:03:13.960 --> 00:03:18.069 absolute lethal microscope. while the judges, 00:03:18.210 --> 00:03:20.590 the people actually making the decisions, are 00:03:20.590 --> 00:03:23.599 operating in a total Completely unregulated gray 00:03:23.599 --> 00:03:26.219 zone. Yeah, the ethics gap. Right. So let's set 00:03:26.219 --> 00:03:28.020 the stage with the news that just dropped because 00:03:28.020 --> 00:03:30.319 the context here is critical. We really have 00:03:30.319 --> 00:03:32.919 to look at March 2025. Right. The PDCA update. 00:03:33.060 --> 00:03:35.819 Yes. The Purebred Dairy Cattle Association just 00:03:35.819 --> 00:03:38.919 rolled out its toughest show ring ethics overhaul 00:03:38.919 --> 00:03:41.400 in an entire decade. Right. We were talking about 00:03:41.400 --> 00:03:43.439 a unanimous board vote that happened back in 00:03:43.439 --> 00:03:46.479 December 2024, and it has finally come to fruition 00:03:46.479 --> 00:03:48.180 and hit the rule books. And they did not hold 00:03:48.180 --> 00:03:50.370 back? They didn't. They tighten the screws on 00:03:50.370 --> 00:03:52.389 the show ring code of ethics, the showmanship 00:03:52.389 --> 00:03:55.129 guidelines, and the dairy cow unified scorecard. 00:03:55.669 --> 00:03:57.849 And for anyone who hasn't read the update, these 00:03:57.849 --> 00:04:00.009 are not just polite suggestions anymore. They 00:04:00.009 --> 00:04:02.930 explicitly call out overbagging. They explicitly 00:04:02.930 --> 00:04:05.590 call out misrepresenting an animal's lactation 00:04:05.590 --> 00:04:08.009 status. Let's actually pause there and explain 00:04:08.009 --> 00:04:10.569 what those violations mean mechanically. Because 00:04:10.569 --> 00:04:12.389 sometimes we throw these terms around and we 00:04:12.389 --> 00:04:15.069 forget the physical reality on the cow. Yeah, 00:04:15.110 --> 00:04:18.209 break it down for us. So overbagging isn't just 00:04:18.209 --> 00:04:21.430 a cow that has a lot of milk, right? It is the 00:04:21.430 --> 00:04:24.930 intentional calculated decision to leave a cow 00:04:24.930 --> 00:04:29.529 unmilked for 12, 18, sometimes even 24 hours 00:04:29.529 --> 00:04:31.930 before she walks into the ring. Which is wild 00:04:31.930 --> 00:04:33.370 to think about from a commercial standpoint. 00:04:33.670 --> 00:04:36.189 It's completely counterintuitive to good husbandry. 00:04:36.350 --> 00:04:38.790 The goal is to stretch the udder to make it look 00:04:38.790 --> 00:04:41.750 incredibly capacious, right? To create this illusion 00:04:41.750 --> 00:04:45.139 of massive dairy strength and milk yield. But 00:04:45.139 --> 00:04:47.639 physiologically, you are putting immense strain 00:04:47.639 --> 00:04:50.439 on the suspensory ligament. Yeah. You are risking 00:04:50.439 --> 00:04:53.240 skyrocketing somatic cell counts. You're risking 00:04:53.240 --> 00:04:55.740 severe mastitis. And you're putting the animal 00:04:55.740 --> 00:04:58.180 in significant physical pain. Just for ribbon. 00:04:58.540 --> 00:05:01.420 for a ribbon. And then you have the misrepresenting 00:05:01.420 --> 00:05:04.480 lactation status. That's when an exhibitor trying 00:05:04.480 --> 00:05:06.500 to manipulate the physical appearance of a dry 00:05:06.500 --> 00:05:10.899 cow to look like she's in milk or tries to hide 00:05:10.899 --> 00:05:13.839 a blind quarter through various, let's just call 00:05:13.839 --> 00:05:16.279 them creative fitting techniques. Creative is 00:05:16.279 --> 00:05:18.480 a generous word for it. It is. But these are 00:05:18.480 --> 00:05:20.540 the kinds of visual manipulations that everyone 00:05:20.540 --> 00:05:23.000 has seen in the barns and that the industry has 00:05:23.000 --> 00:05:25.060 historically just... you know, look the other 00:05:25.060 --> 00:05:27.560 way on. Oh, the looking away has officially stopped 00:05:27.560 --> 00:05:30.399 on the exhibitor side. The PDCA put it in writing. 00:05:30.560 --> 00:05:33.160 They even moved the top line hair allowance from 00:05:33.160 --> 00:05:36.639 one inch to exactly 1 .5 inches. Which sounds 00:05:36.639 --> 00:05:39.459 so crazy to an outsider. Half an inch of hair. 00:05:39.680 --> 00:05:42.079 Right. But for anyone wondering why half an inch 00:05:42.079 --> 00:05:44.220 of hair matters, it is all about structural illusion. 00:05:44.959 --> 00:05:47.420 Exhibitors use adhesives, sprays, and clippers 00:05:47.420 --> 00:05:50.079 to basically sculpt the hair along the cow spine. 00:05:50.300 --> 00:05:53.000 It's an art form, really. It is. But if a cow 00:05:53.000 --> 00:05:57.250 have... A weak tiny or a low loin, which are 00:05:57.250 --> 00:06:00.189 structural flaws that absolutely affect her longevity 00:06:00.189 --> 00:06:02.790 in the commercial environment. A skilled fitter 00:06:02.790 --> 00:06:05.709 can build a fake top line out of hair and glue 00:06:05.709 --> 00:06:07.970 to make her look perfectly straight. Yeah, they 00:06:07.970 --> 00:06:10.769 hide the flaw. Exactly. And the PDCA is finally 00:06:10.769 --> 00:06:13.750 saying no more towering top lines. You get an 00:06:13.750 --> 00:06:17.000 inch and a half, period. They also updated the 00:06:17.000 --> 00:06:19.399 unified scorecard to give fore and rear udder 00:06:19.399 --> 00:06:22.339 attachment an equal 7 point weight in the mammary 00:06:22.339 --> 00:06:24.480 system section, which completely changes how 00:06:24.480 --> 00:06:26.639 breeders need to select for udder longevity. 00:06:27.160 --> 00:06:29.560 So they put the people holding the halter on 00:06:29.560 --> 00:06:32.279 serious notice. Absolutely. There are real written 00:06:32.279 --> 00:06:35.399 penalties now. If you get caught violating these 00:06:35.399 --> 00:06:37.500 rules, like if that top line measures two inches 00:06:37.500 --> 00:06:39.879 or if the ultrasound shows tampering, you are 00:06:39.879 --> 00:06:42.399 looking at immediate forfeiture of premiums. 00:06:42.399 --> 00:06:44.060 You are looking at the disqualification of your 00:06:44.060 --> 00:06:46.720 animal. You're looking at the disqualification 00:06:46.720 --> 00:06:49.079 of the exhibitors themselves, written reprimands, 00:06:49.100 --> 00:06:51.579 and potentially lifetime suspension from future 00:06:51.579 --> 00:06:54.959 shows. And it is backed up by major international 00:06:54.959 --> 00:06:59.139 organizations. You have the IAFE, National Code 00:06:59.139 --> 00:07:01.980 of Show Ring Ethics, which is adopted by massive 00:07:01.980 --> 00:07:04.279 cross -species events like the Calgary Stampede, 00:07:04.360 --> 00:07:07.439 explicitly stating that violators will be barred 00:07:07.439 --> 00:07:09.660 from future competition across the board. Wow. 00:07:10.139 --> 00:07:12.519 So if you are an exhibitor, the rules of the 00:07:12.519 --> 00:07:14.480 game are locked down tight, the cameras are on 00:07:14.480 --> 00:07:17.019 you, you are held to a standard that could fit 00:07:17.019 --> 00:07:19.399 in a legal textbook. Okay. But here is where 00:07:19.399 --> 00:07:21.939 the story takes a wild turn and where the financial 00:07:21.939 --> 00:07:24.850 stakes get astronomically high. Here we go. Just 00:07:24.850 --> 00:07:27.529 four months after that PDCA rulebook update, 00:07:27.750 --> 00:07:30.329 the industry watched the international intrigue 00:07:30.329 --> 00:07:32.610 sale at Butler View Farm in Chabons, Illinois. 00:07:33.629 --> 00:07:36.629 A cow named Olertine Avenger Design stepped into 00:07:36.629 --> 00:07:39.370 that ring. The bidding war erupted. And the hammer 00:07:39.370 --> 00:07:42.610 dropped at $1 million. A million dollars for 00:07:42.610 --> 00:07:45.230 a single dairy cow. $1 million. I mean, let's 00:07:45.230 --> 00:07:47.370 break down exactly what she was. She was a VG89 00:07:47.370 --> 00:07:50.089 max score mystique Avenger daughter. And for 00:07:50.089 --> 00:07:51.449 those who might not follow the classification 00:07:51.449 --> 00:07:55.569 math religiously, VG89 max score means she scored 00:07:55.569 --> 00:07:58.649 very good 89 points out of 100 as a two -year 00:07:58.649 --> 00:08:01.410 -old. Right, which is the cap. Exactly. Under 00:08:01.410 --> 00:08:04.529 the Holstein classification system, a first lactation 00:08:04.529 --> 00:08:06.750 two -year -old physically cannot score excellent 00:08:06.750 --> 00:08:10.120 90 or higher. 89 is the absolute ceiling. It 00:08:10.120 --> 00:08:11.920 means she is considered structurally flawless 00:08:11.920 --> 00:08:14.680 for her age. Yeah, and she was the grand champion 00:08:14.680 --> 00:08:18.060 at Western Dairy Expo in 2025. She had a major 00:08:18.060 --> 00:08:20.560 win at the Royal Winter Fair. Genesaurus bought 00:08:20.560 --> 00:08:23.399 her, and she's heading to Budgen to be a donor 00:08:23.399 --> 00:08:25.759 for one of the most aggressive, high -volume 00:08:25.759 --> 00:08:28.019 genetics programs on the planet. Unbelievable. 00:08:28.019 --> 00:08:30.819 And to put that million -dollar tag into perspective, 00:08:31.120 --> 00:08:35.649 the entire 173 live lots at that sale... grossed 00:08:35.649 --> 00:08:39.570 over $4 .29 million, averaging almost $25 ,000 00:08:39.570 --> 00:08:43.269 ahead. But Zine, she hammered at a million. That 00:08:43.269 --> 00:08:45.470 proves, without a shadow of a doubt, exactly 00:08:45.470 --> 00:08:47.950 how much money rides on a single show ring banner 00:08:47.950 --> 00:08:51.269 today. It really does. It is pure, undeniable 00:08:51.269 --> 00:08:54.549 validation of what a banner is worth to a marketing 00:08:54.549 --> 00:08:57.409 program. And it immediately forces us to look 00:08:57.409 --> 00:08:59.929 at the massive disconnect in how this industry 00:08:59.929 --> 00:09:02.549 regulates itself. You know, you just laid out 00:09:02.549 --> 00:09:04.269 how strict the rules are for the exhibitors. 00:09:04.889 --> 00:09:07.730 The PDCA rulebook reads like a corporate compliance 00:09:07.730 --> 00:09:10.330 document now. Right, with the ultrasound machines 00:09:10.330 --> 00:09:13.250 and hair rulers. Exactly. There are investigation 00:09:13.250 --> 00:09:16.350 committees for the exhibitors, but the person 00:09:16.350 --> 00:09:18.809 standing in the middle of the ring, the judge 00:09:18.809 --> 00:09:21.370 who essentially decides which animal gets that 00:09:21.370 --> 00:09:24.590 million -dollar halo, across most of North America, 00:09:24.629 --> 00:09:26.710 that person operates under rules you could literally 00:09:26.710 --> 00:09:29.250 fit on a beverage napkin. I'm having a hard time 00:09:29.250 --> 00:09:31.090 wrapping my head around this disparity. We're 00:09:31.090 --> 00:09:33.389 calling it the ethics gap. You have an exhibitor 00:09:33.389 --> 00:09:36.830 who spends 365 days breeding, feeding, washing, 00:09:36.990 --> 00:09:39.190 prep work. They pay the entry fees, they get 00:09:39.190 --> 00:09:41.330 to the show, and they are scrutinized down to 00:09:41.330 --> 00:09:43.710 the half inch of hair on the top line. Down to 00:09:43.710 --> 00:09:46.529 the millimeter. Right. The PDCA says, you get 00:09:46.529 --> 00:09:49.929 1 .5 inches. If you push it to 1 .75 inches to 00:09:49.929 --> 00:09:53.629 hide a weak loin, you are out. They are checking 00:09:53.629 --> 00:09:56.509 for overbagging. They are making sure the lactation 00:09:56.509 --> 00:10:00.149 status is 100 % accurate. If that exhibitor messes 00:10:00.149 --> 00:10:02.450 up or intentionally pushes the envelope, there 00:10:02.450 --> 00:10:04.710 are formal investigation committees ready to 00:10:04.710 --> 00:10:07.250 act. Evidence is gathered. Rulings are made. 00:10:07.389 --> 00:10:09.529 And that exhibitor can be publicly suspended, 00:10:09.690 --> 00:10:13.330 which damages their farm's reputation for decades. 00:10:13.470 --> 00:10:16.230 That is written down. It has teeth. And then 00:10:16.230 --> 00:10:19.190 you pivot to the judge. From a practical farmer 00:10:19.190 --> 00:10:21.210 first perspective, I have to ask the obvious 00:10:21.210 --> 00:10:23.789 question here. Wait a minute. If I mess up a 00:10:23.789 --> 00:10:26.269 top line or if I push my luck on bagging a cow 00:10:26.269 --> 00:10:28.330 to make her udder look just a little more impressive, 00:10:28.610 --> 00:10:31.169 I could get suspended, lose my premiums, face 00:10:31.169 --> 00:10:33.830 public humiliation. Right. But what happens to 00:10:33.830 --> 00:10:35.929 the judge if they step into that ring with a 00:10:35.929 --> 00:10:38.389 massive financial conflict of interest? What 00:10:38.389 --> 00:10:40.350 happens if they have a vested financial stake 00:10:40.350 --> 00:10:42.110 in the cow they just slapped on the rump for 00:10:42.110 --> 00:10:44.639 grand champion? Basically nothing. For the vast 00:10:44.639 --> 00:10:46.820 majority of dairy shows outside of the absolute 00:10:46.820 --> 00:10:51.940 top tier, there is no standard cross -show list 00:10:51.940 --> 00:10:54.919 of misconduct for judges. There is no public 00:10:54.919 --> 00:10:58.480 judge -specific ethics code at most county, regional, 00:10:58.600 --> 00:11:01.740 or even state events. The expectations are just 00:11:01.740 --> 00:11:05.360 implied. Implied expectations when we are dealing 00:11:05.360 --> 00:11:07.799 with million -dollar outcomes. I mean, think 00:11:07.799 --> 00:11:10.440 about how fundamentally absurd that is for a 00:11:10.440 --> 00:11:12.700 modern business. It makes no sense. If an exhibitor 00:11:12.700 --> 00:11:15.000 breaks a rule, it's a named violation with a 00:11:15.000 --> 00:11:17.559 specific penalty. If there's a complaint against 00:11:17.559 --> 00:11:20.120 a judge for favoritism or financial bias, it's 00:11:20.120 --> 00:11:22.840 usually handled informally. behind closed doors 00:11:22.840 --> 00:11:25.139 by a local committee if it's even handled at 00:11:25.139 --> 00:11:27.679 all. Yeah, swept under the rug. Most shows don't 00:11:27.679 --> 00:11:30.019 specify any actual penalties for judge conflicts. 00:11:30.299 --> 00:11:31.840 The absolute worst that happens is maybe they 00:11:31.840 --> 00:11:34.019 don't get asked back to judge that specific show 00:11:34.019 --> 00:11:37.139 next year, but even that is entirely at the committee's 00:11:37.139 --> 00:11:40.440 discretion. There is no consistent written requirement 00:11:40.440 --> 00:11:43.379 for a judge to disclose semen contracts, consulting 00:11:43.379 --> 00:11:45.899 work, or co -ownership with the exhibitors they 00:11:45.899 --> 00:11:49.139 are actively judging. It is exactly like having 00:11:49.139 --> 00:11:52.659 a professional racetrack where you install high 00:11:52.659 --> 00:11:55.820 -tech speed cameras at every single corner. You 00:11:55.820 --> 00:11:57.639 weigh the cars down to the ounce before they 00:11:57.639 --> 00:12:00.080 hit the asphalt. You drug test the drivers. You 00:12:00.080 --> 00:12:02.539 find the pit crew thousands of dollars if their 00:12:02.539 --> 00:12:04.340 tire tread is a millimeter off specification. 00:12:04.759 --> 00:12:08.679 Great analogy. But the referee, the person standing 00:12:08.679 --> 00:12:11.200 at the finish line who actually declares the 00:12:11.200 --> 00:12:14.519 winner of the race, they are legally allowed 00:12:14.519 --> 00:12:17.860 to wear a blindfold. And worse, they are allowed 00:12:17.860 --> 00:12:20.820 to openly bet on the outcome of the race with 00:12:20.820 --> 00:12:23.559 the drivers. And we all just sit in the grandstands, 00:12:23.559 --> 00:12:25.440 eat our hot dogs, and pretend it's a perfectly 00:12:25.440 --> 00:12:28.480 fair competition. That analogy hits the nail 00:12:28.480 --> 00:12:31.279 on the head, and it really brings us to the industry 00:12:31.279 --> 00:12:34.159 reality check. because for years we've all heard 00:12:34.159 --> 00:12:36.759 the barn chatter whispers you walk down the aisles 00:12:36.759 --> 00:12:38.919 you lean on a show box you share a cup of coffee 00:12:38.919 --> 00:12:40.919 and you hear it oh well the judge just bought 00:12:40.919 --> 00:12:43.080 a bunch of semen from that farm's herd sire or 00:12:43.080 --> 00:12:45.820 oh they do nutritional consulting for the farm 00:12:45.820 --> 00:12:48.200 in the first stall yep it's always the same stories 00:12:48.200 --> 00:12:51.799 it's the same names the same judges the same 00:12:51.799 --> 00:12:54.220 faces standing in the backdrop of the champion 00:12:54.220 --> 00:12:57.940 photos year after year and for decades People 00:12:57.940 --> 00:12:59.960 just shrugged. You told your kids, hey, that's 00:12:59.960 --> 00:13:02.080 just part of showing. It's political. You just 00:13:02.080 --> 00:13:04.039 have to breed a cow so good they can't ignore 00:13:04.039 --> 00:13:06.700 her. I am absolutely not buying that complacency 00:13:06.700 --> 00:13:09.139 anymore. That everyone knows narrative is completely 00:13:09.139 --> 00:13:11.799 outdated. I mean, it was one thing to shrug off 00:13:11.799 --> 00:13:14.519 politics when you were. playing for a $50 premium 00:13:14.519 --> 00:13:16.799 and a shiny ribbon to hang on the stall back 00:13:16.799 --> 00:13:19.179 in 1990. Right, when the stakes were low. But 00:13:19.179 --> 00:13:22.340 the money has changed drastically, and the written 00:13:22.340 --> 00:13:24.740 standards around judging haven't kept pace with 00:13:24.740 --> 00:13:27.039 the economic reality. We are not playing for 00:13:27.039 --> 00:13:29.240 ribbons anymore. We are dealing in lifetime genetics 00:13:29.240 --> 00:13:32.419 revenue that swings high six to low seven figures 00:13:32.419 --> 00:13:36.169 based on one afternoon in the ring. You cannot 00:13:36.169 --> 00:13:39.429 have an informal gray zone when a million dollars 00:13:39.429 --> 00:13:41.690 is on the line. I agree completely. And I think 00:13:41.690 --> 00:13:43.250 it's important to point out that it doesn't have 00:13:43.250 --> 00:13:47.070 to be this way because we do have one major glaring 00:13:47.070 --> 00:13:49.210 exception in the industry. World Dairy Expo. 00:13:49.350 --> 00:13:52.710 Yes, World Dairy Expo. Madison is the exception, 00:13:52.889 --> 00:13:55.990 not the rule. They actually updated their code 00:13:55.990 --> 00:13:58.830 of ethics insuring policy for 2025 to address 00:13:58.830 --> 00:14:02.090 this exact disparity. If you open their premium 00:14:02.090 --> 00:14:04.870 book, starting right on page 24, it's all laid 00:14:04.870 --> 00:14:06.990 out in black and white. Page 24, got it. Yeah. 00:14:07.049 --> 00:14:08.929 Bill Hageman, the board president, specifically 00:14:08.929 --> 00:14:11.409 stated that their revisions emphasize clearer 00:14:11.409 --> 00:14:14.389 rule definitions, a more efficient violation 00:14:14.389 --> 00:14:17.129 process, and a structured approach to assessing 00:14:17.129 --> 00:14:19.610 responsibilities and penalties for everyone involved. 00:14:19.950 --> 00:14:22.929 And Madison actually vets their judges. They 00:14:22.929 --> 00:14:25.149 use a judge selection committee. The judges are 00:14:25.149 --> 00:14:27.649 nominated and voted on by the exhibitors themselves. 00:14:28.169 --> 00:14:30.690 As an exhibitor, you have to formally agree to 00:14:30.690 --> 00:14:34.429 WDE's rules, regulations, showing policy, and 00:14:34.429 --> 00:14:36.409 code of ethics just as a condition of entry. 00:14:36.529 --> 00:14:38.490 It's a real contract. It is a highly structured 00:14:38.490 --> 00:14:41.110 environment. with a massive legal framework behind 00:14:41.110 --> 00:14:43.129 it. It proves that the industry can put rules 00:14:43.129 --> 00:14:44.909 on paper and enforce them when the spotlight 00:14:44.909 --> 00:14:46.929 is bright enough. But step outside of Madison. 00:14:47.129 --> 00:14:50.309 Go down a level. Go to a county show, a regional 00:14:50.309 --> 00:14:53.230 show, or even some mid -tier state -level shows. 00:14:53.389 --> 00:14:56.950 That level of legal structure just evaporates. 00:14:57.029 --> 00:15:00.629 Poof. Gone. You are immediately back in that 00:15:00.629 --> 00:15:03.350 unwritten gray zone. And that gray zone is where 00:15:03.350 --> 00:15:06.100 the financial conflicts live and breathe. It's 00:15:06.100 --> 00:15:08.980 the undisclosed semen contracts. It's the judge 00:15:08.980 --> 00:15:11.679 who does $20 ,000 a year in consulting work for 00:15:11.679 --> 00:15:14.379 the farm showing the lead string. It's the judge 00:15:14.379 --> 00:15:16.559 who secretly co -owns a heifer in a syndicate 00:15:16.559 --> 00:15:19.580 with the exhibitor holding the halter. As a commercial 00:15:19.580 --> 00:15:21.899 farmer trying to compete legitimately, it is 00:15:21.899 --> 00:15:24.559 incredibly frustrating. You spend all this capital 00:15:24.559 --> 00:15:25.980 to get your string looking perfect. You haul 00:15:25.980 --> 00:15:28.600 them 500 miles and you walk into a ring where 00:15:28.600 --> 00:15:31.179 the deck might be financially stacked against 00:15:31.179 --> 00:15:33.840 you from the very first step. Okay. Let me challenge 00:15:33.840 --> 00:15:35.970 you on that though. I I understand the frustration 00:15:35.970 --> 00:15:37.990 of the gray zone, but I really want to get into 00:15:37.990 --> 00:15:41.250 the actual mechanics of why it matters. How does 00:15:41.250 --> 00:15:43.610 a judge actually make money off a cow in the 00:15:43.610 --> 00:15:47.809 ring? Walk me through the exact plumbing of an 00:15:47.809 --> 00:15:51.250 undisclosed semen conflict, because I think a 00:15:51.250 --> 00:15:52.990 lot of people just assume it's a simple bribe, 00:15:52.990 --> 00:15:55.970 like handing over an envelope of cash, and it's 00:15:55.970 --> 00:15:58.269 far more sophisticated than that. It is much 00:15:58.269 --> 00:16:00.850 more sophisticated, and it's entirely legal under 00:16:00.850 --> 00:16:03.440 the current lack of rules. Let's walk through 00:16:03.440 --> 00:16:06.200 a hypothetical but very common financial flow. 00:16:06.360 --> 00:16:09.279 Okay, let's hear it. Let's say a judge is a respected 00:16:09.279 --> 00:16:13.019 breeder who owns a share in an AI stud syndicate. 00:16:13.120 --> 00:16:16.899 That syndicate owns a young, high genomic herd 00:16:16.899 --> 00:16:20.309 sire. The judge gets a 10 % royalty on the gross 00:16:20.309 --> 00:16:22.850 semen sales of that specific bull. Makes sense 00:16:22.850 --> 00:16:25.730 so far. Now, the judge steps into the ring to 00:16:25.730 --> 00:16:28.370 evaluate a class of four -year -olds. The exhibitor 00:16:28.370 --> 00:16:30.710 leading the best cow in the class happens to 00:16:30.710 --> 00:16:33.190 be the farm that bred that exact herd sire. Ah, 00:16:33.350 --> 00:16:35.490 okay. I see where this is going. Right. So if 00:16:35.490 --> 00:16:37.370 the judge slaps that four -year -old as grand 00:16:37.370 --> 00:16:39.629 champion, they aren't getting handed an envelope 00:16:39.629 --> 00:16:42.549 of cash behind the barn. But what happens next? 00:16:43.080 --> 00:16:46.340 The press. Exactly. The dairy press blasts the 00:16:46.340 --> 00:16:48.259 photo of that grand champion cow everywhere. 00:16:48.580 --> 00:16:50.879 The narrative becomes, look at the incredible 00:16:50.879 --> 00:16:52.879 mammary system and dairy strength of this cow 00:16:52.879 --> 00:16:56.240 family. Suddenly, commercial and purebred breeders 00:16:56.240 --> 00:16:59.000 all over the world want those genetics. The seaman 00:16:59.000 --> 00:17:01.980 orders for her brother. The judge owns a royalty 00:17:01.980 --> 00:17:05.009 stake in Skyrocket. The bull goes from selling 00:17:05.009 --> 00:17:08.109 10 ,000 units a year to 50 ,000 units a year. 00:17:08.329 --> 00:17:11.630 The judge just indirectly put $40 ,000 or $50 00:17:11.630 --> 00:17:14.410 ,000 into their own bank account by elevating 00:17:14.410 --> 00:17:17.269 a cow from that specific genetic line. That is 00:17:17.269 --> 00:17:19.809 exactly why this is such a massive liability 00:17:19.809 --> 00:17:23.230 today. To understand the true weight of that 00:17:23.230 --> 00:17:26.049 conflict, we have to follow the money. We have 00:17:26.049 --> 00:17:28.670 to look at the exact economics of a grand champion 00:17:28.670 --> 00:17:31.289 title in today's dairy industry. Let's do the 00:17:31.289 --> 00:17:33.829 math. Let's break down the barn sheet math. Because 00:17:33.829 --> 00:17:35.829 the multiplication effect of a banner right now 00:17:35.829 --> 00:17:39.069 is staggering. It acts almost like an influencer 00:17:39.069 --> 00:17:42.440 blue. checkmark that artificially inflates the 00:17:42.440 --> 00:17:44.839 algorithm of the dairy genetics market we really 00:17:44.839 --> 00:17:47.980 need to move past the nostalgic idea that a banner 00:17:47.980 --> 00:17:50.359 just adds a little prestige or gets you a nice 00:17:50.359 --> 00:17:52.380 photo for the living room wall it is a massive 00:17:52.380 --> 00:17:54.859 economic multiplier huge let's look at the auction 00:17:54.859 --> 00:17:56.900 hammer prices first we already talked about a 00:17:56.900 --> 00:17:58.779 vendor design hitting one million dollars at 00:17:58.779 --> 00:18:00.940 the international intrigue sale with the sale 00:18:00.940 --> 00:18:03.519 averaging nearly 25 000 but look at the world 00:18:03.519 --> 00:18:06.599 classic holstein sale at world dairy expo just 00:18:06.599 --> 00:18:09.519 a few months before that that sale averaged $30 00:18:09.519 --> 00:18:14.259 ,245 across 55 lots. And the standout lot, it 00:18:14.259 --> 00:18:16.980 wasn't even a live cow. It was an IVF session 00:18:16.980 --> 00:18:21.279 on OCD sheepster 23614. Yes. And for context, 00:18:21.460 --> 00:18:24.460 at the time, she was the number one GTPI female 00:18:24.460 --> 00:18:26.859 in the breed. And for those who might not live 00:18:26.859 --> 00:18:30.259 and breathe genetics, GTPI stands for Genomic 00:18:30.259 --> 00:18:32.980 Total Performance Index. The holy grail number. 00:18:33.200 --> 00:18:35.619 Exactly. It is a composite index that ranks animals 00:18:35.619 --> 00:18:37.640 based on a combination of production traits, 00:18:37.920 --> 00:18:41.079 health traits, and type or physical conformation. 00:18:41.579 --> 00:18:44.380 It is essentially a genetic roadmap predicting 00:18:44.380 --> 00:18:46.880 how profitable that animal's offspring will be. 00:18:46.980 --> 00:18:49.660 She was the absolute top of that list. Exactly. 00:18:49.680 --> 00:18:53.099 And that single IVF session, in vitro fertilization, 00:18:53.180 --> 00:18:55.799 where they aspirate oocytes from her ovaries, 00:18:55.900 --> 00:18:58.380 fertilize them in a lab, and implant the resulting 00:18:58.380 --> 00:19:01.660 embryos into recipient heifers, brought $205 00:19:01.660 --> 00:19:05.380 ,000 to Oakfield Corners from Cemex. $205 ,000? 00:19:05.460 --> 00:19:09.769 One donor. One single veterinary procedure, $205 00:19:09.769 --> 00:19:12.950 ,000. Think about that from a practical commercial 00:19:12.950 --> 00:19:15.089 farmer's perspective. That's life -changing money. 00:19:15.420 --> 00:19:19.980 A $205 ,000 IVF session is bigger than most robotic 00:19:19.980 --> 00:19:23.039 milker down payments. It's larger than a complete 00:19:23.039 --> 00:19:26.380 stall renovation for a 500 cow dairy. It's an 00:19:26.380 --> 00:19:29.500 unbelievable amount of capital tied to a single 00:19:29.500 --> 00:19:31.980 genetic transaction. Okay, I am looking at these 00:19:31.980 --> 00:19:33.660 numbers and I have to stop you and ask this critical 00:19:33.660 --> 00:19:36.720 question. How does a single show ribbon suddenly 00:19:36.720 --> 00:19:39.960 justify that kind of money? Because the GTPI 00:19:39.960 --> 00:19:42.339 is a mathematical genomic evaluation, right? 00:19:42.680 --> 00:19:45.400 a genomic test is a blood or hair sample sent 00:19:45.400 --> 00:19:47.740 to a lab the genetics didn't change overnight 00:19:47.740 --> 00:19:49.859 just because a judge handed her a rosette yeah 00:19:49.859 --> 00:19:52.279 so why does the market react this way Because 00:19:52.279 --> 00:19:54.740 the banner creates perceived market dominance, 00:19:54.900 --> 00:19:56.720 and in the high -end genetics game, perception 00:19:56.720 --> 00:19:59.900 drives demand. When you introduce high -volume 00:19:59.900 --> 00:20:02.319 IVF into the equation, the multiplication just 00:20:02.319 --> 00:20:04.700 keeps stacking. How so? We aren't talking about 00:20:04.700 --> 00:20:07.279 a top cow having one natural calf a year anymore. 00:20:07.480 --> 00:20:10.440 A top donor can produce dozens of high -quality 00:20:10.440 --> 00:20:13.359 embryos per flush. She can produce hundreds of 00:20:13.359 --> 00:20:15.880 embryos over her productive life. When you have 00:20:15.880 --> 00:20:17.900 that kind of incredible volume, every single 00:20:17.900 --> 00:20:19.980 extra notch of perceived elite status matters 00:20:19.980 --> 00:20:22.380 immensely to the final sale price of those offspring. 00:20:22.619 --> 00:20:25.779 Ah, so it proves the numbers are real. Yes. If 00:20:25.779 --> 00:20:28.440 you can put a legitimate grand champion banner 00:20:28.440 --> 00:20:32.059 on a female with a high GTPI, you prove that 00:20:32.059 --> 00:20:33.900 she doesn't just look good on a spreadsheet. 00:20:34.490 --> 00:20:37.170 She possesses elite physical confirmation in 00:20:37.170 --> 00:20:39.809 the real world. Suddenly, every IVF session, 00:20:40.029 --> 00:20:42.950 every embryo package, every son that goes to 00:20:42.950 --> 00:20:46.069 an AI stud picks up an extra shine. Oakfield 00:20:46.069 --> 00:20:48.529 Corners Dairy is the perfect case study for this 00:20:48.529 --> 00:20:51.009 effect. Look at the trajectory of Oakfield Solomon 00:20:51.009 --> 00:20:53.369 Footloose. She was supreme champion at World 00:20:53.369 --> 00:20:56.630 Dairy Expo in 2022. And she comes back and takes 00:20:56.630 --> 00:20:58.289 grand champion of the International Holstein 00:20:58.289 --> 00:21:00.789 Show in 2024. Back -to -back dominance. When 00:21:00.789 --> 00:21:03.490 that happened, the demand for that specific cow 00:21:03.490 --> 00:21:05.890 family's genetics didn't just rise linearly. 00:21:06.150 --> 00:21:09.009 It spiked exponentially. Now, to be completely 00:21:09.009 --> 00:21:11.289 fair to the breeders, a banner doesn't magically 00:21:11.289 --> 00:21:13.529 create quality where there isn't any. No, of 00:21:13.529 --> 00:21:15.490 course not. You can't take an average commercial 00:21:15.490 --> 00:21:18.369 cow, hand her a ribbon, and sell her embryos 00:21:18.369 --> 00:21:21.349 for $10 ,000. These cows earn their price tags 00:21:21.349 --> 00:21:24.390 on merit. They have deep, proven pedigrees and 00:21:24.390 --> 00:21:27.930 incredibly strong genomic profiles. But the banner 00:21:27.930 --> 00:21:31.049 drives the eyeballs. It drives the phone calls. 00:21:31.170 --> 00:21:34.130 It drives the international bids toward the cattle 00:21:34.130 --> 00:21:36.170 that already possess the quality. Let's run the 00:21:36.170 --> 00:21:38.170 actual math on this, because the source material 00:21:38.170 --> 00:21:41.089 from the deep dive spells out exactly what this 00:21:41.089 --> 00:21:43.210 looks like on a farm spreadsheet. Let's start 00:21:43.210 --> 00:21:45.390 with semen pricing and volume. Okay, let's hear 00:21:45.390 --> 00:21:48.190 the numbers. If you open any AI catalog today, 00:21:48.369 --> 00:21:51.269 you see the spread immediately. High -profile, 00:21:51.269 --> 00:21:53.630 heavily marketed sires that come directly from 00:21:53.630 --> 00:21:56.769 recent showering -winning cow families often 00:21:56.769 --> 00:21:59.930 run $10 to $20 more per dose compared to solid, 00:22:00.049 --> 00:22:02.750 commercial sires that have similar genomic numbers 00:22:02.750 --> 00:22:05.670 but lack that Madison backdrop story. And we 00:22:05.670 --> 00:22:08.089 know from economic modeling tools like bull value 00:22:08.089 --> 00:22:10.609 dollars and other semen value calculators that 00:22:10.609 --> 00:22:13.289 a bull's lifetime value is incredibly sensitive 00:22:13.289 --> 00:22:16.029 to even microscopic changes in price and unit 00:22:16.029 --> 00:22:19.309 sales. Highly sensitive. So let's run a conservative, 00:22:19.589 --> 00:22:22.670 real -world scenario. Let's say the show ring 00:22:22.670 --> 00:22:25.430 exposure on a cow family pushes a related sire 00:22:25.430 --> 00:22:27.769 from being a good, reliable, commercial bull 00:22:27.769 --> 00:22:32.490 to a headline, must -use bull. That elite status 00:22:32.490 --> 00:22:35.809 supports an extra $10 per dose in the catalog. 00:22:36.109 --> 00:22:38.710 Okay, 10 extra dollars. And let's say he sells 00:22:38.710 --> 00:22:41.650 50 ,000 additional units globally over his career 00:22:41.650 --> 00:22:44.430 because of that marketing push. That is $500 00:22:44.430 --> 00:22:48.220 ,000 in incremental semen revenue. Half a million 00:22:48.220 --> 00:22:51.180 dollars tied, at least in part, to a story that 00:22:51.180 --> 00:22:53.400 started with a single judge's decision in a show 00:22:53.400 --> 00:22:55.440 ring. Half a million just on the semen side. 00:22:55.839 --> 00:22:58.859 Now let's add the embryos and IVF back into the 00:22:58.859 --> 00:23:00.819 ledger. It's going. Oh, it keeps going. If a 00:23:00.819 --> 00:23:03.119 grand champion cow with a national level resume 00:23:03.119 --> 00:23:05.720 sells just a couple of IVF sessions, she can 00:23:05.720 --> 00:23:09.140 easily command a $50 ,000 to $100 ,000 premium 00:23:09.140 --> 00:23:11.420 for each session over what she would have brought 00:23:11.420 --> 00:23:14.180 with just a strong genomic test and no show record. 00:23:14.640 --> 00:23:18.119 And then let's say she moves 80 to 120 conventional 00:23:18.119 --> 00:23:21.119 embryos over a few years. Because of her show 00:23:21.119 --> 00:23:23.220 record, the international market is willing to 00:23:23.220 --> 00:23:27.640 pay an extra $400 to $800 each for those embryos. 00:23:27.839 --> 00:23:30.940 You multiply that out and you are easily looking 00:23:30.940 --> 00:23:35.380 at $130 ,000 to $300 ,000 in added pure profit 00:23:35.380 --> 00:23:38.259 revenue linked directly to that banner. And then 00:23:38.259 --> 00:23:40.440 you finally get to the sale ring uplift, which 00:23:40.440 --> 00:23:42.220 is where the farm cashes in the equity all at 00:23:42.220 --> 00:23:44.519 once. Like I said, Avenger Design brought a million. 00:23:45.039 --> 00:23:47.299 But even looking more broadly at the market, 00:23:47.480 --> 00:23:50.680 other banner -backed lots at elite sales regularly 00:23:50.680 --> 00:23:53.880 clear well over six figures, even when the overall 00:23:53.880 --> 00:23:55.599 sale average is sitting around $10 ,000 or $15 00:23:55.599 --> 00:23:58.119 ,000. It's a massive premium. If you compare 00:23:58.119 --> 00:24:01.420 a champion cow to a similar non -champion sister 00:24:01.420 --> 00:24:04.759 from the exact same flush, the show record alone 00:24:04.759 --> 00:24:09.460 can add a $50 ,000 to $250 ,000 premium on the 00:24:09.460 --> 00:24:12.410 live animal. It is impossible to say down to 00:24:12.410 --> 00:24:14.730 the exact dollar how much of a hammer price is 00:24:14.730 --> 00:24:17.650 the pedigree versus the banner, but it is not 00:24:17.650 --> 00:24:19.789 a stretch at all to say the show record adds 00:24:19.789 --> 00:24:22.190 tens to hundreds of thousands of dollars to the 00:24:22.190 --> 00:24:24.769 final invoice. So what does this all mean when 00:24:24.769 --> 00:24:27.410 you add up the ledger? We have $500 ,000 in extra 00:24:27.410 --> 00:24:30.910 semen revenue, we have $130 ,000 to $300 ,000 00:24:30.910 --> 00:24:34.170 in added embryo revenue, and we have $50 ,000 00:24:34.170 --> 00:24:37.569 to $250 ,000 in live sale ring uplift. That's 00:24:37.569 --> 00:24:40.130 approaching a million dollars pretty fast. Exactly. 00:24:40.509 --> 00:24:43.210 Obviously, not every supreme or grand champion 00:24:43.210 --> 00:24:45.349 will hit those exact numbers. Some will fall 00:24:45.349 --> 00:24:47.809 short and a few generational outliers will blow 00:24:47.809 --> 00:24:50.329 completely past them. But the point we are making 00:24:50.329 --> 00:24:53.849 is the order of magnitude. A true national level 00:24:53.849 --> 00:24:57.049 banner realistically moves high six to low seven 00:24:57.049 --> 00:25:00.170 figures in lifetime genetics revenue. Which brings 00:25:00.170 --> 00:25:02.609 us to a really uncomfortable realization. Yeah. 00:25:02.690 --> 00:25:05.539 At that scale. The person standing in the middle 00:25:05.539 --> 00:25:08.079 of the ring is not just a polite adjudicator 00:25:08.079 --> 00:25:10.319 deciding who gets to walk out of the ring first 00:25:10.319 --> 00:25:12.180 and get their picture taken. Or they're a kingmaker. 00:25:12.420 --> 00:25:15.059 They are a massive economic kingmaker. They are 00:25:15.059 --> 00:25:18.500 deciding who gets to sell a multi -million dollar 00:25:18.500 --> 00:25:20.420 story to the global market for the next decade. 00:25:20.859 --> 00:25:23.160 And that brings us to the hardest part of this 00:25:23.160 --> 00:25:26.539 entire analysis. With millions of dollars at 00:25:26.539 --> 00:25:29.200 stake for the winners, what is the actual financial 00:25:29.200 --> 00:25:31.779 and emotional toll on the everyday farm families? 00:25:32.220 --> 00:25:34.859 The ones standing on the rail, paying good money 00:25:34.859 --> 00:25:37.559 to participate in this system, hoping for a fair 00:25:37.559 --> 00:25:40.400 shake. This is where we see the phenomenon of 00:25:40.400 --> 00:25:43.059 the silent exit. You rarely see a farm family 00:25:43.059 --> 00:25:45.559 storm out of the barn, throw their halters on 00:25:45.559 --> 00:25:47.559 the ground, scream at the judge, and announce 00:25:47.559 --> 00:25:49.559 to everyone that they are done showing forever. 00:25:49.880 --> 00:25:51.900 No, that never happens. That's just not how agricultural 00:25:51.900 --> 00:25:54.880 communities operate. It happens quietly. It's 00:25:54.880 --> 00:25:56.799 the teenager who used to live and breathe for 00:25:56.799 --> 00:25:59.059 show season who suddenly tells their parents 00:25:59.059 --> 00:26:01.650 they have, you know, other priorities or want 00:26:01.650 --> 00:26:04.049 to work an off -farm job this summer. It's the 00:26:04.049 --> 00:26:06.730 breeder who historically hauled a massive full 00:26:06.730 --> 00:26:10.250 string of 15 head every single year who suddenly 00:26:10.250 --> 00:26:12.890 decides to just take three heifers to the local 00:26:12.890 --> 00:26:16.630 fair and stay closer to home. It's that familiar 00:26:16.630 --> 00:26:18.750 custom trailer that used to be parked on the 00:26:18.750 --> 00:26:20.710 rail at Madison that just stopped showing up 00:26:20.710 --> 00:26:23.569 entirely. The research actually backs up exactly 00:26:23.569 --> 00:26:26.170 what we are hearing in the aisles. This isn't 00:26:26.170 --> 00:26:28.410 just anecdotal complaining from people who didn't 00:26:28.410 --> 00:26:31.460 win. Let's look at the methodology of these youth 00:26:31.460 --> 00:26:34.039 impact studies. There was a comprehensive livestock 00:26:34.039 --> 00:26:37.220 ethics study out of Purdue University that tracked 00:26:37.220 --> 00:26:39.579 youth participants. What did they find? They 00:26:39.579 --> 00:26:41.440 found that when youth completed a structured 00:26:41.440 --> 00:26:44.339 ethics curriculum, it significantly improved 00:26:44.339 --> 00:26:46.539 their cognitive understanding of ethical decisions 00:26:46.539 --> 00:26:49.319 and the long -term consequences within show programs. 00:26:49.799 --> 00:26:52.220 But even more telling and honestly a bit heartbreaking 00:26:52.220 --> 00:26:55.160 is the joint survey of 4 -H and FA youth and 00:26:55.160 --> 00:26:57.200 their parents conducted in Pennsylvania and West 00:26:57.200 --> 00:26:59.420 Virginia. Oh, we have to unpack that survey because 00:26:59.420 --> 00:27:01.539 it is fascinating. The researchers documented 00:27:01.539 --> 00:27:04.319 how kids and adults view 23 common livestock 00:27:04.319 --> 00:27:07.589 exhibition practices. 23 practices. Yeah, they 00:27:07.589 --> 00:27:10.250 asked them to rate practices ranging from aggressive 00:27:10.250 --> 00:27:13.250 fitting to outright rule -breaking. And what 00:27:13.250 --> 00:27:15.589 they found is that the youth possess a very strong 00:27:15.589 --> 00:27:18.930 moral compass. The kids can clearly label what 00:27:18.930 --> 00:27:21.650 is ethical and what isn't. But the kicker is 00:27:21.650 --> 00:27:24.430 the discrepancy in observation. This is the crazy 00:27:24.430 --> 00:27:27.410 part. These kids reported seeing unethical behavior 00:27:27.410 --> 00:27:30.109 in the barns far more often than the adults were 00:27:30.109 --> 00:27:32.849 willing to admit on the same survey. Because 00:27:32.849 --> 00:27:36.140 the kids see it all. They aren't blind. They 00:27:36.140 --> 00:27:38.079 see the overbagging in the back of the tent. 00:27:38.200 --> 00:27:40.700 They see the shady prep jobs and the illegal 00:27:40.700 --> 00:27:44.079 substances being hidden in the tack boxes. And 00:27:44.079 --> 00:27:46.259 they absolutely see the politics of who is shaking 00:27:46.259 --> 00:27:48.480 hands with the judge and who is buying the judge 00:27:48.480 --> 00:27:50.740 a drink at the hotel bar. They pick up on everything. 00:27:51.339 --> 00:27:53.799 Imagine the psychological impact on a 14 -year 00:27:53.799 --> 00:27:56.359 -old who has spent six months halter -breaking 00:27:56.359 --> 00:27:58.940 and washing a heifer, only to realize the winner 00:27:58.940 --> 00:28:01.259 was decided by a consulting contract signed three 00:28:01.259 --> 00:28:03.480 states away. So let's look at the show string 00:28:03.480 --> 00:28:05.160 balance sheet for those families because this 00:28:05.160 --> 00:28:07.140 is where the rubber meets the road. Let's do 00:28:07.140 --> 00:28:10.980 the barn math. If you are hauling a serious multi 00:28:10.980 --> 00:28:14.000 -animal string across state lines, you have to 00:28:14.000 --> 00:28:15.819 account for the initial cost of the calves. This 00:28:15.819 --> 00:28:18.619 is high. Very high. You have specialized show 00:28:18.619 --> 00:28:22.119 fee that can run $40 to $50 a bag. You have entry 00:28:22.119 --> 00:28:24.920 fees, vet checks, and health papers. You have 00:28:24.920 --> 00:28:27.279 the diesel fuel to run a dually truck hauling 00:28:27.279 --> 00:28:30.759 a 32 -foot trailer from Ohio to Wisconsin. You 00:28:30.759 --> 00:28:33.180 have hotel rooms for a week, food for the crew, 00:28:33.380 --> 00:28:36.019 the cost of custom fitters who charge a day rate 00:28:36.019 --> 00:28:38.660 plus a percentage, and the inevitable truck repairs. 00:28:39.299 --> 00:28:42.740 It is incredibly easy to land in the $15 ,000 00:28:42.740 --> 00:28:45.339 to $30 ,000 a year range for that show budget. 00:28:45.599 --> 00:28:48.279 It is remarkably easy to burn through that cash. 00:28:48.519 --> 00:28:50.799 So let's take a rough conservative average of 00:28:50.799 --> 00:28:53.440 $20 ,000 a year out of pocket for a serious family. 00:28:53.759 --> 00:28:56.099 If you look at just the five -year junior window, 00:28:56.589 --> 00:28:59.289 those prime years from ages 13 to 18 when the 00:28:59.289 --> 00:29:00.869 kids are really involved in the junior shows, 00:29:01.069 --> 00:29:05.009 that is $100 ,000 total. A hundred grand, just 00:29:05.009 --> 00:29:08.710 gone. And if you stretch that into the open divisions 00:29:08.710 --> 00:29:11.529 over a longer breeding career, you are easily 00:29:11.529 --> 00:29:15.410 pushing north of $200 ,000 in sunk costs. I want 00:29:15.410 --> 00:29:17.630 you, the person listening to this right now in 00:29:17.630 --> 00:29:20.029 the tractor or the parlor, to pause and look 00:29:20.029 --> 00:29:23.420 at your own balance sheet. What else could $100 00:29:23.420 --> 00:29:27.660 ,000 buy for your operation today? So many things. 00:29:27.900 --> 00:29:31.559 That is a serious, substantial chunk of a down 00:29:31.559 --> 00:29:33.960 payment on a robotic milking system to solve 00:29:33.960 --> 00:29:37.640 your labor crisis. That is a major parlor remodel. 00:29:37.720 --> 00:29:40.599 That's a complete barn retrofit with deep bedded 00:29:40.599 --> 00:29:43.539 sand stalls for massive improvements in cow comfort 00:29:43.539 --> 00:29:46.400 and longevity. Or going back to the genetic side 00:29:46.400 --> 00:29:48.200 we talked about, that is a massive investment 00:29:48.200 --> 00:29:50.559 in IVF technology on the top one to two percent 00:29:50.559 --> 00:29:52.680 of your own commercial herd to rapidly accelerate 00:29:52.680 --> 00:29:55.359 your genetic progress. And here's the critical 00:29:55.359 --> 00:29:57.579 foundational difference between those expenses. 00:29:57.799 --> 00:30:00.160 Those alternative investments, the robots, the 00:30:00.160 --> 00:30:02.359 comfortable stalls, the commercial IVF program, 00:30:02.559 --> 00:30:05.160 they pay you back every single. day for every 00:30:05.160 --> 00:30:07.660 single cow on every single milk check regardless 00:30:07.660 --> 00:30:09.500 of whether your kid wins a class on a saturday 00:30:09.500 --> 00:30:12.279 afternoon that is the turning point for the silent 00:30:12.279 --> 00:30:15.279 exit the moment a farm family looks around the 00:30:15.279 --> 00:30:18.200 barn sees the gray zone conflicts and decides 00:30:18.200 --> 00:30:20.680 that the system isn't as fair as it should be 00:30:20.680 --> 00:30:24.599 that 100 000 completely changes shape in their 00:30:24.599 --> 00:30:27.450 minds it stops being fun It stops feeling like 00:30:27.450 --> 00:30:29.670 a worthwhile investment in their herd's genetic 00:30:29.670 --> 00:30:32.369 marketing or their kids' youth development. It 00:30:32.369 --> 00:30:34.390 starts feeling like they are just paying mandatory 00:30:34.390 --> 00:30:38.109 tuition to be a background extra in someone else's 00:30:38.109 --> 00:30:40.490 multi -million dollar marketing program. Ouch. 00:30:41.069 --> 00:30:44.049 But it's true. If you genuinely believe a show 00:30:44.049 --> 00:30:47.250 gives your cattle a fair, unbiased, anatomical 00:30:47.250 --> 00:30:50.069 evaluation and it helps build your herd's long 00:30:50.069 --> 00:30:52.730 -term story, then spending that money might make 00:30:52.730 --> 00:30:54.910 total sense for your business model. But the 00:30:54.910 --> 00:30:57.069 night you decide the balance of fairness is gone, 00:30:57.230 --> 00:30:59.509 that's the night those checks stop being investments 00:30:59.509 --> 00:31:02.170 and become unrecoverable donations. And it raises 00:31:02.170 --> 00:31:04.549 such a tough existential question about the youth 00:31:04.549 --> 00:31:07.049 impact. When a family reaches that realization, 00:31:07.329 --> 00:31:09.400 what are the kids actually learning? Are they 00:31:09.400 --> 00:31:12.299 learning genuine stockmanship, deep animal husbandry, 00:31:12.359 --> 00:31:14.920 resilience, and work ethic? Or are they learning 00:31:14.920 --> 00:31:17.359 something else? Right. Are they learning that 00:31:17.359 --> 00:31:21.559 the game is fundamentally rigged to favor whoever 00:31:21.559 --> 00:31:24.140 has the biggest semen contract with the person 00:31:24.140 --> 00:31:26.309 in the center of the ring? If the perception 00:31:26.309 --> 00:31:29.029 of backroom politics is shaping your kids' worldview 00:31:29.029 --> 00:31:32.109 more than the cattle are shaping their work ethic, 00:31:32.269 --> 00:31:34.990 that is a massive red flag for the future of 00:31:34.990 --> 00:31:37.750 the breed. So if the current system is fundamentally 00:31:37.750 --> 00:31:41.210 broken in these gray areas and it is driving 00:31:41.210 --> 00:31:44.269 good, hardworking commercial farm families quietly 00:31:44.269 --> 00:31:47.170 out the door, what does a fixed system actually 00:31:47.170 --> 00:31:50.710 look like? What does real structural accountability 00:31:50.710 --> 00:31:54.009 in the show ring entail? Well, a fair ring doesn't 00:31:54.009 --> 00:31:55.569 mean you are going to agree with every single 00:31:55.569 --> 00:31:57.789 placement. Let's be entirely realistic about 00:31:57.789 --> 00:32:00.529 the nature of livestock evaluation. Good judges 00:32:00.529 --> 00:32:02.890 see cows differently. Sure, it's objective. One 00:32:02.890 --> 00:32:05.769 judge prioritizes dariness and angularity. Another 00:32:05.769 --> 00:32:08.190 prioritizes strength and foot structure. That 00:32:08.190 --> 00:32:10.589 is part of the art of judging, and that subjectivity 00:32:10.589 --> 00:32:13.230 will never change. But a fair ring means the 00:32:13.230 --> 00:32:15.089 judge walks into the center with clean, declared 00:32:15.089 --> 00:32:18.230 hands. It means absolutely no undisclosed seen 00:32:18.230 --> 00:32:20.549 in contracts, no consulting deals on the side, 00:32:20.630 --> 00:32:22.910 no hidden co -ownership ties with the cattle 00:32:22.910 --> 00:32:25.390 they are about to sort. It also means the exhibitors 00:32:25.390 --> 00:32:28.210 know exactly what will get them tossed out. And 00:32:28.210 --> 00:32:30.470 they have actually seen those rules enforced 00:32:30.470 --> 00:32:34.009 publicly, even when it means penalizing. big 00:32:34.009 --> 00:32:36.829 important names in the industry who buy a lot 00:32:36.829 --> 00:32:39.190 of ad space. Yes, accountability for everyone. 00:32:39.410 --> 00:32:41.829 It means show management isn't just saying we'll 00:32:41.829 --> 00:32:44.049 look into it when a formal complaint is filed, 00:32:44.150 --> 00:32:47.069 but they have a real transparent documented process 00:32:47.069 --> 00:32:49.769 for handling it. And what's fascinating here 00:32:49.769 --> 00:32:51.650 is that we don't even have to invent this wheel 00:32:51.650 --> 00:32:54.210 from scratch. Other competitive animal industries 00:32:54.210 --> 00:32:56.410 have already solved this exact problem. Yes, 00:32:56.450 --> 00:32:58.410 and this is the most contrarian take we found 00:32:58.410 --> 00:33:00.779 in the source material. We have a dairy industry 00:33:00.779 --> 00:33:03.240 dealing in agricultural commodities where a single 00:33:03.240 --> 00:33:06.019 animal moves a million dollars. But if you want 00:33:06.019 --> 00:33:08.380 to see a functional model of strict financial 00:33:08.380 --> 00:33:11.200 accountability and ethics enforcement, you have 00:33:11.200 --> 00:33:13.640 to look outside agriculture entirely. You have 00:33:13.640 --> 00:33:16.059 to look at dog shows. Dog shows. The American 00:33:16.059 --> 00:33:18.480 Kennel Club. Wait, I have to challenge this comparison. 00:33:18.920 --> 00:33:21.539 You are telling dairy farmers to look at dog 00:33:21.539 --> 00:33:24.200 shows for operational guidance. A dog doesn't 00:33:24.200 --> 00:33:27.420 produce milk. A dog doesn't have a GTPI. A dog 00:33:27.420 --> 00:33:30.720 doesn't produce 120 embryos to sell to an international 00:33:30.720 --> 00:33:34.240 syndicate. How does a poodle's agility run or 00:33:34.240 --> 00:33:37.099 confirmation class translate to a million -dollar 00:33:37.099 --> 00:33:39.940 agricultural commodity? I hear the skepticism, 00:33:40.039 --> 00:33:42.900 and it sounds ridiculous on the surface, but 00:33:42.900 --> 00:33:44.440 you have to look past the animal and look at 00:33:44.440 --> 00:33:46.420 the financial accountability matrix they build. 00:33:46.539 --> 00:33:50.019 The AKC runs a completely formal, legally binding, 00:33:50.220 --> 00:33:52.519 conflict of interest rulebook for their judges. 00:33:52.799 --> 00:33:55.380 Okay, how strict is it? Because dogs don't have 00:33:55.380 --> 00:33:58.339 economic value in milk, the entire value is in 00:33:58.339 --> 00:34:00.200 the breeding pedigree, which makes the ribbon 00:34:00.200 --> 00:34:03.500 paramount. They enforce strict lookback periods 00:34:03.500 --> 00:34:06.039 of six months to a full year for any ownership, 00:34:06.240 --> 00:34:08.760 boarding, or handling ties between judges and 00:34:08.760 --> 00:34:12.239 exhibitors. If a judge has had a financial relationship 00:34:12.239 --> 00:34:15.000 with an exhibitor in the last 12 months, they 00:34:15.000 --> 00:34:16.880 must recuse themselves. And they actually enforce 00:34:16.880 --> 00:34:20.260 it. Intensely. They back all of this up with 00:34:20.260 --> 00:34:23.320 a massive structured enforcement ladder. It starts 00:34:23.320 --> 00:34:27.099 with formal observation by AKC reps, and it escalates 00:34:27.099 --> 00:34:30.300 to fines up to $5 ,000 and lifetime suspensions 00:34:30.300 --> 00:34:33.280 of judging privileges. It is an incredibly robust 00:34:33.280 --> 00:34:36.760 system. It is incredible to think about. A dong 00:34:36.760 --> 00:34:39.000 show has a more rigorous financial accountability 00:34:39.000 --> 00:34:42.639 framework than a dairy ring, where a grand champion 00:34:42.639 --> 00:34:45.300 title alters the trajectory of a million -dollar 00:34:45.300 --> 00:34:47.989 dairy business. Crazy. Right. And I know people 00:34:47.989 --> 00:34:49.469 will push back and say, well, the dairy industry 00:34:49.469 --> 00:34:51.550 is smaller. It's built on generations of relationships. 00:34:51.769 --> 00:34:53.969 It's tradition. You can't regulate handshakes. 00:34:54.070 --> 00:34:57.210 But let me be blunt. You don't owe anybody a 00:34:57.210 --> 00:35:00.530 trailer spot at a ring you don't trust. The tradition 00:35:00.530 --> 00:35:02.469 narrative doesn't pay your feed bills and it 00:35:02.469 --> 00:35:04.550 doesn't pay your mortgage. So what are the future 00:35:04.550 --> 00:35:06.690 implications here? How do we fix this at the 00:35:06.690 --> 00:35:10.030 local, county and regional levels where WDE style 00:35:10.030 --> 00:35:12.909 lawyers and rules don't exist? Because real accountability 00:35:12.909 --> 00:35:15.590 isn't actually that complicated to put on paper. 00:35:16.059 --> 00:35:18.000 The Bullvine is putting together an accountability 00:35:18.000 --> 00:35:20.119 playbook, but the basics are straightforward 00:35:20.119 --> 00:35:23.380 and completely implementable tomorrow. First, 00:35:23.579 --> 00:35:26.500 you implement a mandatory judge conflict of interest 00:35:26.500 --> 00:35:29.099 disclosure form. The judge files it with the 00:35:29.099 --> 00:35:31.880 committee 30 days before the show. They legally 00:35:31.880 --> 00:35:34.960 list any recent consulting, ownership, or semen 00:35:34.960 --> 00:35:37.360 and IVF relationships they have with the known 00:35:37.360 --> 00:35:40.639 exhibitors. And there are clear written recusal 00:35:40.639 --> 00:35:44.349 rules if a conflict shows up. Second, you create 00:35:44.349 --> 00:35:46.989 an ethics committee that has at least one genuinely 00:35:46.989 --> 00:35:50.449 independent voice. You need someone on that committee 00:35:50.449 --> 00:35:53.760 who's not... deeply financially tied to the main 00:35:53.760 --> 00:35:56.320 exhibitors or the major corporate sponsors. Like 00:35:56.320 --> 00:35:59.239 who? You need a retired breeder, a local veterinarian, 00:35:59.239 --> 00:36:01.300 or an extension agent, someone empowered to review 00:36:01.300 --> 00:36:03.579 issues on both the exhibitor side and the judge 00:36:03.579 --> 00:36:05.900 side without fear of losing their own farm's 00:36:05.900 --> 00:36:08.079 business connections. And third, you have to 00:36:08.079 --> 00:36:10.659 start tracking exhibitor retention as a key performance 00:36:10.659 --> 00:36:13.579 indicator. Shows always track who wins and they 00:36:13.579 --> 00:36:15.539 put those photos in the magazine, but they need 00:36:15.539 --> 00:36:17.500 to start tracking who stops coming back. The 00:36:17.500 --> 00:36:20.489 silent exits. Exactly how many families bring 00:36:20.489 --> 00:36:22.849 their string once, test the waters, and never 00:36:22.849 --> 00:36:25.809 return? Which junior members just quietly stop 00:36:25.809 --> 00:36:28.590 signing up for showmanship? Which longtime multi 00:36:28.590 --> 00:36:30.889 -generational exhibitors are suddenly only bringing 00:36:30.889 --> 00:36:33.730 two head instead of ten? If a show committee 00:36:33.730 --> 00:36:36.050 only looks at the backdrop photos and completely 00:36:36.050 --> 00:36:38.489 ignores the empty trailer spots in the parking 00:36:38.489 --> 00:36:41.349 lot, they are missing the entire health metric 00:36:41.349 --> 00:36:44.380 of their event. So true. None of these fixes 00:36:44.380 --> 00:36:46.900 guarantee your cow is going to win, but they 00:36:46.900 --> 00:36:49.139 completely change who takes the hit when someone 00:36:49.139 --> 00:36:51.599 crosses an ethical line. It takes the burden 00:36:51.599 --> 00:36:54.119 of navigating the gray zone off the shoulders 00:36:54.119 --> 00:36:58.659 of the honest exhibitor. All right, let's stop 00:36:58.659 --> 00:37:00.480 dissecting the problem and start making some 00:37:00.480 --> 00:37:03.340 operational decisions. It is time for some actionable 00:37:03.340 --> 00:37:04.960 insights. I want to put you on the spot. Let's 00:37:04.960 --> 00:37:06.940 do it. A farmer just finished milking, they are 00:37:06.940 --> 00:37:08.760 driving to the fee store, and they are thinking 00:37:08.760 --> 00:37:11.260 about their show budget. What are the three things 00:37:11.260 --> 00:37:13.760 they need to remember from today? Let's break 00:37:13.760 --> 00:37:16.199 this down into immediate action, medium term 00:37:16.199 --> 00:37:18.619 strategy, and long term positioning. Insight 00:37:18.619 --> 00:37:21.239 number one is your immediate action, your 30 00:37:21.239 --> 00:37:23.800 day plan. You don't have to torch your entire 00:37:23.800 --> 00:37:26.699 show program tomorrow, but you need to only keep 00:37:26.699 --> 00:37:28.719 showing where the rules are real. You need to 00:37:28.719 --> 00:37:30.960 get incredibly picky. Quality over quantity. 00:37:31.059 --> 00:37:34.380 Exactly. Stop going to every single show you 00:37:34.380 --> 00:37:36.900 can reach within a six hour drive and focus on 00:37:36.900 --> 00:37:40.110 a few shows with real structure. Pick your top 00:37:40.110 --> 00:37:42.329 one or two target shows for this upcoming season. 00:37:42.889 --> 00:37:44.909 Before you send your entries and write that check, 00:37:45.090 --> 00:37:47.250 call or email the show committee and ask for 00:37:47.250 --> 00:37:50.090 three specific documents. What are they? Their 00:37:50.090 --> 00:37:52.789 current written show ring code of ethics their 00:37:52.789 --> 00:37:55.510 formal complaint and enforcement process and 00:37:55.510 --> 00:37:57.750 their written judge conflict of interest policy 00:37:57.750 --> 00:37:59.130 and what if they don't have them or they give 00:37:59.130 --> 00:38:01.610 you the run around if you ask twice and they 00:38:01.610 --> 00:38:03.510 cannot provide those three things in writing 00:38:03.510 --> 00:38:05.909 you must believe what that silence tells you 00:38:05.909 --> 00:38:08.530 treat that as a massive no confidence signal 00:38:08.530 --> 00:38:11.230 it means integrity sits below convenience on 00:38:11.230 --> 00:38:13.829 their operational priority list yeah at that 00:38:13.829 --> 00:38:16.949 point you need to seriously consider moving your 00:38:16.949 --> 00:38:19.070 cattle and your checkbook to a different show 00:38:19.070 --> 00:38:21.469 protect your bottom line from getting drained 00:38:21.469 --> 00:38:23.829 by vanity projects where the rules are flexible 00:38:23.829 --> 00:38:26.090 for the right people. Insight number two is the 00:38:26.090 --> 00:38:28.989 medium term strategy, the 90 -day plan. This 00:38:28.989 --> 00:38:31.050 is where we scale back the string and apply what 00:38:31.050 --> 00:38:33.590 we're calling the two -to -one redeployment test. 00:38:33.929 --> 00:38:36.030 You need to look at the real economic engine 00:38:36.030 --> 00:38:38.570 of your farm, which is milk volume, components, 00:38:38.690 --> 00:38:41.489 and commercial genetics, and acknowledge if your 00:38:41.489 --> 00:38:44.289 show spend is more passion than profit. Be honest 00:38:44.289 --> 00:38:46.329 with yourself. I want you to sit down with your 00:38:46.329 --> 00:38:48.929 accountant or your farm spreadsheet. Add up last 00:38:48.929 --> 00:38:51.590 year's total show costs, every single dollar. 00:38:51.929 --> 00:38:55.050 Entries, fuel, hotels, clipping, specialized 00:38:55.050 --> 00:38:58.349 feed, calves you bought just to show. Take 25 00:38:58.349 --> 00:39:01.630 % to 50 % of that total and deliberately earmark 00:39:01.630 --> 00:39:03.849 it for a completely different bucket. Earmark 00:39:03.849 --> 00:39:07.030 it for a robot fund, or facility upgrades, or 00:39:07.030 --> 00:39:09.650 an aggressive IVF program on your commercial 00:39:09.650 --> 00:39:13.010 herd. Run a realistic five -year projection. 00:39:13.940 --> 00:39:16.260 If redirecting that money into your facilities 00:39:16.260 --> 00:39:19.099 or your commercial herd pays you back at a two 00:39:19.099 --> 00:39:21.219 -to -one ratio or better compared to the actual 00:39:21.219 --> 00:39:23.360 cash flow those show banners have yielded for 00:39:23.360 --> 00:39:25.860 you, you have a clear financial mandate. Make 00:39:25.860 --> 00:39:27.599 the move. Reallocate those funds immediately. 00:39:27.920 --> 00:39:30.219 Cut back on the number of animals you haul and 00:39:30.219 --> 00:39:32.739 put those saved dollars to work lifting the entire 00:39:32.739 --> 00:39:35.139 herd at home, not just the two or three that 00:39:35.139 --> 00:39:37.340 click up nicely for a Saturday show. Finally, 00:39:37.440 --> 00:39:39.280 insight number three is your long -term positioning. 00:39:39.460 --> 00:39:43.590 The 365 -day plan. Use your weight locally. If 00:39:43.590 --> 00:39:45.929 you sit on a county or a state show committee, 00:39:46.110 --> 00:39:48.590 if you are a major sponsor, or if you are a commercial 00:39:48.590 --> 00:39:50.650 breeder whose name carries weight in the barns, 00:39:50.670 --> 00:39:53.530 people will listen when you speak up. They absolutely 00:39:53.530 --> 00:39:55.829 will. You need to push for corporate structure 00:39:55.829 --> 00:39:57.650 in rooms where people are used to doing things 00:39:57.650 --> 00:40:01.050 by a handshake. Pick just one single reformed 00:40:01.050 --> 00:40:03.800 champion this year. It could be pushing for that 00:40:03.800 --> 00:40:06.400 written judge disclosure form to be implemented 00:40:06.400 --> 00:40:09.360 and kept on record. It could be demanding an 00:40:09.360 --> 00:40:12.320 annual enforcement summary, even an anonymized 00:40:12.320 --> 00:40:15.000 one, be shared with all exhibitors so they know 00:40:15.000 --> 00:40:17.219 the rules are actually applied and not just window 00:40:17.219 --> 00:40:19.599 dressing. Or the independent seat. Right. Fighting 00:40:19.599 --> 00:40:22.840 to get that one genuinely independent seat on 00:40:22.840 --> 00:40:24.940 the ethics committee. You won't get the entire 00:40:24.940 --> 00:40:27.340 culture changed in one year, but you will find 00:40:27.340 --> 00:40:29.980 out very quickly which shows actually want real 00:40:29.980 --> 00:40:32.699 integrity and which ones. just want clean looking 00:40:32.699 --> 00:40:35.360 rules on paper while fighting to keep the gray 00:40:35.360 --> 00:40:38.179 zone intact. To wrap this up, I want to address 00:40:38.179 --> 00:40:40.280 you directly about your legacy in this industry. 00:40:40.659 --> 00:40:43.260 Think about the long game. When your kids look 00:40:43.260 --> 00:40:45.440 back on this stretch of their showing years, 00:40:45.539 --> 00:40:48.039 a decade or two from now, what are they going 00:40:48.039 --> 00:40:50.119 to remember? Are they going to remember an environment 00:40:50.119 --> 00:40:53.159 that proved that... Honest work, incredible stockmanship, 00:40:53.300 --> 00:40:55.380 and genuinely good cattle still count. Or the 00:40:55.380 --> 00:40:58.360 alternative. Or will they remember this era as 00:40:58.360 --> 00:41:00.699 the exact moment they realized the odds were 00:41:00.699 --> 00:41:02.760 permanently stacked and they were just paying 00:41:02.760 --> 00:41:05.800 to be pawns in a system built to favor someone 00:41:05.800 --> 00:41:08.360 else's brand? You can't take the money out of 00:41:08.360 --> 00:41:11.119 the ring. A $1 million cow makes that crystal 00:41:11.119 --> 00:41:14.510 clear. The money is here to stay. But the committee 00:41:14.510 --> 00:41:16.630 that counts both the banners and the quiet exits 00:41:16.630 --> 00:41:19.090 is the one that actually fixes the problem. You 00:41:19.090 --> 00:41:21.130 decide which rings deserve your cattle, your 00:41:21.130 --> 00:41:24.409 time, and your money. This has been another deep 00:41:24.409 --> 00:41:27.170 dive from the Bullvine Podcast. For more straight 00:41:27.170 --> 00:41:30.650 -talking industry analysis, head to www .thebullvine 00:41:30.650 --> 00:41:34.000 .com. Subscribe wherever you get podcasts. We're 00:41:34.000 --> 00:41:35.380 out with new episodes every day and upcoming 00:41:35.380 --> 00:41:37.539 topics will be a tier three economics breakdown, 00:41:37.860 --> 00:41:40.840 walking the semen, IVF and sale ring math line 00:41:40.840 --> 00:41:43.139 by line. Let us know in the comments, is the 00:41:43.139 --> 00:41:45.380 million dollar banner good for the breed or just 00:41:45.380 --> 00:41:45.800 the brand?