Record-breaking bids are dominating the Houston Livestock Show and Rodeo's junior market auctions this year.

Why it matters: As the dollars roll in, Texas students are reaping the benefits.

Catch up quick: Each year's show is the culmination of months of work by students who raised livestock or created rodeo artwork leading up to the big event.

• The show's judges determine the grand champion and reserve grand champion in the art competition and several livestock categories, from swine to steer.
• The top two winners are sent to the junior market auction held throughout Rodeo Houston.

Driving the news: Nine auctions so far this year saw record-breaking winning bids.

What they're saying: Rodeo leaders tell Axios more records could fall. The pig market auction is 11am Friday, with the steer auction 11am Saturday.

• "I have no reason to think that they won't break records as well," Laura Lambert, Rodeo Houston's director of auctions and attractions, says. "It may not be on the grand champion, but I believe overall, they'll do really well."

By the numbers: Bidders have spent $4 million at auction ahead of the Friday and Saturday markets.

• Auctions totaled $5.1 million in 2025 and $4.7 million in 2024.

How it works: The money generated by the junior market largely funds the organization's scholarship and grant programs.

• Rodeo Houston pledged $30 million for Texas students this year. They've dolled out about $660 million since they started in 1932.

The intrigue: The bids come from Houston's "titans of industry" and supporters of the show, Lambert says.

• "Our donors are incredibly generous," she says. "They do have deep pockets, but they have deeper hearts. They really believe in the mission of the show. They believe in these kids."

Between the lines: Livestock bidders don't receive the animal they purchased but get other benefits, including a commercially sourced meat package.

Yes, but: The student exhibitors showing their livestock and artwork do get a payday. Each placement is guaranteed a cash premium ranging from $2,600 for the 50th place turkey to $85,000 for the grand champion steer.

The bottom line: Rodeo Houston wraps up Sunday.

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You could soon be paying over $4 per gallon as the war in Iran drives one of the sharpest gas price surges in recent history.

Why it matters: For many Americans, the most visible barometer of how the Iran war is going may be the price at the gas station down the street.

By the numbers: Gas prices averaged $3.46 per gallon in the Houston region yesterday, per Gasbuddy. Much of Southeast Texas has cheaper gas than the rest of the state, data shows.

• The statewide average is $3.60 per gallon, with averages reaching up to $3.99 in far West Texas.

Breaking it down: The White House insists prices will fall rapidly once President Trump's military objectives in Iran are achieved.

• But analysts say it could take weeks to months for prices to ease, even after the war begins to wind down. That could keep gas prices elevated into the summer.

Reality check: Prices were relatively low — below $3 on average — when the war began, so they're still below historic highs despite a more than 25% increase since the war began.

• Prices spiked to around $5 per gallon at the start of the war in Ukraine, for example.
• But gas prices are one of the most visible and keenly felt forms of inflation, and have a disproportionate impact on lower-income households.

The bottom line: Rising gas prices could make it harder for President Trump to convince Americans it's a fight worth having.

Go deeper

🚔 Three Houston City Council members are proposing legislation that would limit the police department's cooperation with Immigration and Customs Enforcement. (Houston Chronicle)

🛢️ Escalating Iran tensions and higher oil and gas prices are expected to loom over CERAWeek, a major global energy summit in Houston next week. (Axios)

🤖 Dashcam video shows a Waymo self-driving vehicle attempting to enter a downtown high-occupancy vehicle lane the wrong way. (ABC13)

Yesterday's Wayback Houston depicted the southern portion of Hermann Park, 8.9 acres of which were approved for seizure yesterday to expand Harris County's Ben Taub Hospital.

Driving the news: Four of y'all — Tom F., Harvey K., Ben R. and Saul G. — correctly identified the area as the prevailing feature in the 1944 aerial photo we shared in yesterday's newsletter.

Flashback: In 1914, Houston real estate tycoon George H. Hermann deeded 285 acres of property to the city to construct a municipal park "to promote the general welfare of the city of Houston, and the health, comfort, and happiness of the citizens."

• Now, the park is 445 total acres, minus the roughly 9 acres taken through eminent domain by the Harris County Commissioners Court yesterday.

What's next: Check out the Hermann Park Conservancy 20-year master plan for the park.