Livestock Shows (hogs, sheep, goats, and cattle) are broken down into levels of competition. In Oklahoma and Texas they are:
Jackpots Shows: Generally open to the world or limited to the state. Entry paid, show, win (Take home more money = D) or lose (Get the golden thumb out the gate) and take animal home
County Shows: Limited to exhibitors within a county or parish. Some are free, some have a nomination fee. Show, Win or lose, and/or make bonus sale (money paid to exhibitor for doing a good job) and exhibitor keeps animal.
District shows: Larger scale and open to areas of a state. This can either minic the jackpot shows with entries paid and all the money is paid out of the jackpot, or can minic the county show with entry paid and make the bonus sale. Exhibitor keeps animal.
There are two types of terminal shows.
First type is if you make the bonus sale the animal is sold to the buyer and the exhibitor gets the money. The buyer can choose to keep the animal (if is is a female to raise from) or butcher the animal. This type is more common at either a county or district show. Other animals not making the sale can return home.
Second type of terminal show is where all animals entering the grounds are loaded out to slaughter after exhibition. These are more common on a state or national level of competition with casterated males (hog = barrow, goat or sheep = wether, cattle = steer). These types of shows do have a bonus sale and again, a bonus or premium is paid for the animal to the exhibitor.