How Million Dollar Performance Horses Changed the Industry | Austin Shepard

The performance horse industry isn’t what it was 10 years ago — and few people have had a front-row seat to that shift like $11M+ rider and NCHA Hall of Fame member Austin Shepard.

In this episode of Tom McCutcheon’s The Show, we dive into the rise of million dollar performance horses, the sales that changed the cutting industry, and how major events like The Run For A Million have influenced the broader western performance horse market. Austin shares his perspective on how the game has evolved — from horse values and showmanship to work ethic, mentorship, and what it takes to stay relevant at the highest levels of competition.

From million dollar mares to industry growth, leadership, and the next generation of horsemen, this is an inside look at how cutting — and the entire performance horse world — continues to change.

Whether you’re involved in cutting, reining, cow horse, or simply follow the western performance industry, this conversation offers insight you won’t hear anywhere else.