The 2020 Pikes Peak Posse / Colorado State Fair Buyer Partner proposal
When the Posse, or any bidder, acquires an animal at the auction, that buyer has a choice of either purchasing for his own use and processing it or, in the alternative, take advantage of the “buyback” option. Each Fair has a contract with a standby buyer who agrees to purchase all the buyback animals at market value. Buyback prices are listed on the sale program. For example, if the Posse supports a 4H-er by purchasing a lamb for $1,900 and selects the posted $179 buyback option, we just pay the “Add On” difference of $1,721 and then the lamb goes to the contract buyer.
In prior years, Posse participants have been offered the opportunity to acquire beef, pork, lamb or goat from the Posse at the posted “buyback” price while the Posse pays the “Add On” from Posse funds. Continuing with the example, if you, as a Posse member, request to purchase a lamb for your personal consumption, you would pay $179 with the additional benefit of Diedre and Scott offering to arrange for the processing at a cost of about $100. You would then have about 67 pounds of quality lamb in your freezer for $279, a great deal for you since the estimated retail cost of the same (say at King Soopers) would be about $550.
For 2020 we are simply adding 50% of the “Add On” price to the cost of the meat. In the above example you would pay $1,139 for the lamb and also get a $861 tax deductible charitable contribution!
The following schedule compares the estimated meat costs and the charitable contribution to you with this proposal; the estimated retail value of the meat at the grocery store, and; the cost to you if you simply purchased an animal at the fair independently from the Posse.