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Premium Auction Concludes Fair

By Staff | Jul 24, 2012

Morgan Schmidt leads her calf into the ring for the Premium Auction on Sunday afternoon to conclude the Palo Alto County Fair for another year. The bidding would raise $32,825 for the exhibitors participating in the auction. --Dan Voigt photo

The bidding was just as heated as the temperatures outdoors Sunday afternoon at the pavilion on the Palo Alto County Fairgrounds for the All-Premium Auction on the final day of the 2012 Palo Alto County Fair. Spirited bidding along with some generous support of some businesses and individuals helped the auction raise a total of $32,825 for the 76 exhibitors taking part in the event. That total was $1,650 above the 2011 auction total.

Through the skills of auctioneers another success. To get the bids, it took some hard work in the show arena for the auctioneering corps of Dan Vonnahme, Jay Bargman, Tom Eberle, newcomer Brent Mehan, worked the crowd for the premium bids, while auction clerks Jenny Krug of Wells Fargo Bank, Sarah Bonnstetter of Iowa Trust and Savings Bank and Emily Bonnstetter and Katie Malm tracked the bids with assistance from Clyde Johnson and Julie Naig.

Prior to the start of the All Premium Auction, some special recognition was given to donors presenting an additional premium payment to each exhibitor. Continuing a trend they started in 2010, Eric and Mary Woodford, owners of Woodford Equipment of Emmetsburg donated an additional $5 to be added to the premium of each auction participant. Also joining in making a $5 per exhibitor contribution was the Emmetsburg Boosters’ Auction Buying cooperative, while Bakewell Investments of St. Louis, MO, and the Acre Company of Spencer both announced they would provide an additional $20 to each auction participant’s premium for a total bonus premium of $50 to each exhibitor in the auction.

In the final tabulations, the 76 premiums sold at auction translated into an average premium of $431.91 per auction participant, an increase of $3.86 over the 2011 average premium of $427.05.

A total of 42 buyers and two cooperative buying groups participated in the all-premium auction. Under the system, the livestock entries, with the exception of dairy animals, are transported to terminal markets where they are sold at current market price, which is paid to the exhibitors. The bid at the all-premium auction is their “reward” for the work and efforts put into their respective project.

Market Lamb Sale

There were 14 sheep exhibitors in the all-premium auction, and they earned $4,400 in their auction, us $725 from the 2011 auction total of $3,675. On the average, the 14 sheep exhibitors received an average premium of $14.29, which was some $31.60 above the 2011 average of $282.69.

Luke Mogler’s Supreme Grand Champion market lamb would receive a premium of $300 from the ACRE Company and Butch Frederick, while Ryan Borchardt’s Supreme Reserve Champion Market Lamb received a premium of $225 from Hurley Farms.

Premiums for the market lambs ranged from $225 to a top premium of $425 for the exhibitors.

Market Goat Sale

The Market Goats in the all Premium Auction saw the seven exhibitors earn $2,375 for their premiums, the same premium total as in the 2011 auction. The average premium for each exhibitor totaled $ $339.29 for each exhibitors, $65.40 above the 2011 premium of 263.89.

Kelsey Hurley’s Grand Champion Goat received a premium of $750, which was paid by Bank Midwest, and Hurley’s Reserve Champion goat earned a $225 premium from Hurley Farms. Premiums for the market goats ranged from $200 to $750.

Market Beef Sale

The auction of the market beef featured 35 exhibitors, earning a total of $17, 300, which was an even $600 less that the 2011 auction premium of $17,900. With an average of $494.29, the exhibitors received a premium $42,42 less than the 2011 average premium of 542,42.

Anna Sorenson’s Supreme Grand Champion steer was sold to Craig and Karen Thu and Pat Sorenson for a premium of $875, while the Supreme Reserve Champion Market Beef shown by Kyle Louswagie fetched a premium of $625 from the Building Centers. The premiums paid to beef exhibitors ranged from $875

to $325.

Dairy Sale

The Dairy sale’s six exhibitors were recognized prior to the start of their premium auction as the 2012 Palo Alto County Fair Herdsmanship Winners, an honor presented based on the neatness of their stall areas in the livestock barns. In the auction, the six exhibitors earned a total premium of $2,525, which was an increase of $125 over the 2011 fair total of $2,400. That would translate into an average premium of $420,83, which was an increase of 20.83 per exhibitor over the $400 per exhibitor premium paid in 2011.

Mollie Walker’s Supreme Champion and Reserve Champion Dairy animal honors fetched a premium of $400 from Butch Frederick Farms.

The dairy premiums paid out ranged from $375 to $525.

Market Swine Sale

The auction concluded with the Market Swine auction, where a total of $6,225 was paid to the 14 swine Exhibitors, up $1,400 over the 2011 auction total of $4,825. The average premium worked out to $444.64 per exhibitor, up $42.56 fro, the 2011 premium of $402.08.

Once again, spirited bidding filled the pavilion for the Supreme Champion Market Pig of Kyle Kassel, as Spencer Agronomy of Ruthven paid $750 for the premium. The Supreme Reserve Champion Market Pig, shown by Tony Reding, commanded a premium of $425 from Spencer Ag Service of Spencer.

Premiums paid in the swine auction ranged from the $750 top to $325.