Texas longhorn cattle prices: a review in 2024

Texas longhorn cattle prices: A review of auction sale prices

“How much do Texas Longhorn cattle cost?”

In general, this is possibly the most asked question in the longhorn industry and the most difficult to answer.

So much so that we have visited the subject of Texas longhorn cattle prices before…

2020 – Texas longhorn cattle cost HOW MUCH?

2021 – How much do Texas longhorns cost?

2022 – How do Texas Longhorn cattle compare with other breeds?

2023 – What is the value of Texas Longhorn cattle in 2023

“WHY the variation in Texas longhorn cattle prices?” you may wonder.

To clarify, the cost of Texas Longhorn Cattle is kind of like the cost of shoes. For example, you will pay around $19.9 million for a pair of Moon Star Shoes by Antonio Vietri with solid gold heels, 30 carats of diamonds and meteorite from Argentina. Clearly these ‘elite’ shoes are not the number one go to shoe for ranching Texas longhorn cattle in Texas.  A more practical option could start as low as $20 and range upwards from there. And, even if you look at a type of shoe like cowboy boots, for instance,  prices range considerably. As you know, there are all sorts of options of shoes for all sorts of prices, making average shoe prices difficult to estimate.

Coincidently, Texas Longhorn cattle prices are somewhat the same.

 

Simply put, Texas longhorn prices vary.

1. Texas longhorn cattle prices are not standardized.
2. There is also no official guideline.

Furthermore, Texas Longhorn Cattle prices vary for other reasons too. 

• Attributes. Texas Longhorns are assessed for many different attributes. Specifically, the length of their horns is a measurable and therefore objective criterion. Conformation is an example of a subjective criterion. A person will judge a subjective criteria  depending on his/her preferences.
• Resourcefulness. Ranchers keep longhorns for many reasons, such as, for show and competition, for ag exemption, for beef production and/or for nostalgia. Following, a rancher’s objectives for purchasing longhorns in the first place will certainly influence how much of a budget to set aside. Prices are not consistent across the board ( CLICK HERE – for objectives of owning Texas longhorn cattle)
• Appearance. No one longhorn is alike. Similarly, people’s preferences are not necessarily the same.
• The Market. The economy, the weather, the beef market and the longhorn industry itself, influence prices.
• Fashions and Trends. Just like shoe styles come in and out of fashion, so do longhorn looks and longhorn genetics. From time to time, certain genetics are sought after, over others.

 

 

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Texas Longhorn Cattle prices: Available data

Despite the obvious variation in prices, Texas longhorn auctions are one way to determine their value.

Indeed, it’s necessary to bare in mind that these sales are not without their own influences.

• Quality.  The quality of the lots for sale directly influences the price a buyer will offer.
• The Crowd. The auction environment itself, impacts prices. A well attended auction that attracts multiple, motivated buyers can keep the prices rolling, especially if there is interest in the same longhorn for sale.

The 2023 auction DATA

• Prices ranged from $300.00 to  $360,000.00 for longhorns that sold on public auction in 2023.
• We estimate that around 2000 Texas longhorns sold at Texas longhorn public auctions in 2023.
• The majority of lots sold under the $10,000 mark. ( approximately 90%)
•  234 Texas longhorn cows sold on auction for a price of $10,000 or above. (Texas Longhorn Trails, Jan 2024 ed.,P 13) 
• According to TLBAA, the 234 group of Texas longhorn cows sold for a combined total of $7,006,700.00. (This is up from the year before where 190 longhorns sold for $10K or more for a combined total of $6,357,300.00)
• 76% of these sales came from just 3 auctions (cash value = $5,347,050.00)
• 10 sold for $100,000.00 or more  (cash value = $1,845,000.00)
• Close to half, 45% of these 234 cows, sold between $10,000.00 to $20,000.00.
• TLBAA member DATA

figures are courtesy of the TLBAA

• In 2023, the TLBAA registered 7445 longhorns
•  8625  transfers were processed through the system. (Texas Longhorn Breeders Ass. of America)
• We assume that transfers are predominately longhorns that were sold

In effect,  auction sales comprised close to only a quarter of the Texas longhorn sales in 2023. Nonetheless, unlike private treaty sales, these prices are available for everyone to see. In addition, these values are the only price reference available publicly and therefore we feel they are worthy of analysis.

 

Our methodology for analyzing Texas longhorn cattle prices

To be honest, the 2023 auction prices were variable to the extreme.

So, we focused on a couple of groups rather than all sales.

• Following, we homed in on heifers born in 2021 ( around 2 years of age ) , as well as cows born in 2018,
• As a side note: In 2020, we did a study on the sale prices of heifers born in 2018 ( at that time, these longhorns were around 2 years of age.)  This year we revisited that age group even though the longhorns themselves would not necessarily be the same ones that appeared in our original data.
• In 2020, we looked at 6 auctions. This year we picked 5 of those 6 and added an additional 4.
• To sum up, we analyzed price data from 9 auctions.

 

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Our findings

 

1. For longhorn cows BORN IN 2018

• Overall, 88 sale lots fell into our research window
•  77 longhorns were sold, 11 of the 88 were passed/scratched
• The total price value for these 88 lots = $1,208,650.00
• Of interest, the three lowest prices were $550,$900 and $900
• The three highest prices were $275,000,$130,000 and $54,000
• The average with all values included = $13,734.65
• The average with the three lowest prices and the three highest prices excluded = $9,113.41
• In total, 27 of 88 lots sold ABOVE the average of $9,113.41 (about 30%)

• Whereas, 63 of 88 lots sold BELOW the average of $9,113.41 (about 70%)
  • Within this  group $0.00 to $9,113.41 – See Graph B
    • 11 did not sell
    • 4 sold for less than $1000.00
    • 13 sold for between $1001.00 and $2000.00
    • 13 sold for between $2001.00 and $3000.00
    • 7 sold for between $3001.00 and $4000.00
    • 5 sold for between $4001.00 and $5000.00
    • 2 sold for between $5001.00 and $6000.00
    • 3 sold for between $6001.00 and $7000.00
    • 4 sold for between $7001.00 and $8000.00
    • 1 sold for between $8001.00 and $9113.41.

 

 

Disregarding the number of lots that were passed over and not sold, the data for sales ‘below the average’ points to a more realistic picture. In other words, GRAPH A is extremely variable, whilst GRAPH B is closer to a statistical normal distribution curve.

 

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2. For longhorn cows BORN IN 2021

• We analyzed 123 sale lots in this category.
• Notably, of those 123 lots, 115 longhorns were sold and 8 were not sold/scratched
• The three lowest prices were $300,$300 and $350
• On the other extreme, the three highest prices were $95,000,$87,000 and $20,000
• Overall, the total price value for the 123 lots = $1,028,910.00
• The average with all values included = $8,365.12
• Then average with the three lowest prices and the three highest prices excluded = $7,059.48
• In total, 37 of 123 longhorns sold ABOVE the average of $7,059.48 ( approx. 30%)

• 86 of 123 lots fell below the average of $7,059.48  (69.9%)
• within the group $0.00 to $7059.48 – See Graph D
  • 8 did not sell
  • 15 sold for less than $1000.00
  • 19 sold for between $1001.00 and $2000.00
  • 15 sold for between $2001.00 and $3000.00
  • 13 sold for between $3001.00 and $4000.00
  • 6 sold for between $4001.00 and $5000.00
  • 6 sold for between $5001.00 and $6000.00
  • 4 sold for between $6001.00 and $7059.

 

Sales for longhorns born in 2021 followed a similar pattern to that of longhorns born in 2018. However, in this category the bell curve is even more pronounced and the median is more obvious, around $2000.00.

Consequently, more money was spent on 4 year olds as apposed to 2 year olds. This makes sense because a cow’s progeny is the best way to assess her productivity. 

 

 

 

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Final thoughts on Texas longhorn cattle prices

It is true that auction prices make up a small percentage of total Texas longhorn sales in a year.  Although we do buy longhorns on auction from time to time, more often than not, we purchase our longhorns through private treaty.  Nonetheless, the auction results do offer insight into longhorn prices and an indication of the value some people place on them.

 

Interestingly:-

• Almost all longhorns that sold for the highest prices on auction, sold with a Tip To Tip horn measurement (TTT) of 100″ or expectations thereof in the future.
• On the contrary, not every longhorn with a wide TTT measurement realized the highest prices on auction leading us to assume that a wide TTT measurement is not be the only criterion for selling a longhorn within the highest price ranges.
• Our analyses point to higher price averages when all sales, from the highest to the lowest prices, are considered. However, it’s important to note that 70% of  sales were below the average price.
• The median range for registered longhorn heifers  appears to be between $2000 and $4000 on auction. The median is the middle value.
• Since we included the most profitable sales in our data, we must mention the tendency for sales between $10,000 and $20,000. However, when we considered all auction sale prices across the board, this pattern was not as pronounced, especially for younger longhorns.
• In essence, its all about buying the longhorns for the price you are prepared to pay. If you don’t, somebody else will.
• Will you to sell your longhorn at the same price tag? As with art, there are no guarantees, so its best to stay within your budget.

Incidentally, Bella Donna is for sale in our salebarn. Click here for or more information

To conclude

In summary, just like those Antonio Vietri shoes, there are buyers within the Texas longhorn industry that have no limit on their budget.  Moreover, coupled with aspirations to own the longest horned longhorns and these buyers will pay whatever it takes.  High prices most certainly have a positive impact on the longhorn industry. In fact, unlike the shoe market, the Texas longhorn industry is relatively small. Currently, the TLBAA estimates a membership of around 3500 members. So, following the principles of Supply and Demand, as horns are developed even longer, and as more long horn measurements saturate the genetic pool and the market,

the questions remains –

• Will longhorn prices on the high end continue to increase?
• On the other hand, will prices moderate?
• Or will there be a swing to paying premium for the relatively few traditional Texas twisty longhorns that are fast becoming more and more difficult to come by?

We love to know your opinion. Please tell us, what do you think?

 

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Disclaimer: All material noted above is based on our hands- on experience as ranchers, as well as our observations of our own cattle over the years. We have done and continue to do extensive research in order to maintain our herd‘s optimum health. However, all opinions and statements made on our website are meant as guidelines only. In addition, we are not qualified statisticians/ veterinarians and urge you to consult a specialist with your concerns. We strive to publish the accurate information however in the unlikely event that an error is detected, please let us know.

Content of this blog belongs to GVR Longhorns LLC and may not be copied in any form. ©GVRlonghorns.com All rights reserved.

 

 

 

 

References

https://www.businessinsider.com/20-million-dollar-shoes-made-of-gold-diamonds-meteorite-2019-10

TLBAA