HOUSTON, March 21-- If there is a single moment in the 20 days of the world's largest rodeo that epitomizes what the Houston event is all about -- Western themes generating student scholarships in an entertaining format -- it is the high-roller and live auction of the student-raised grand champion steer.

So why did the winning buyers of this year's top beef on the hoof decide Saturday afternoon, after paying 300,000 U.S. dollars for a single orange-and-white, 1,379-pound steer named Peaches, to donate their expensive purchase back to the Houston Livestock Show and Rodeo?

"We bought it for the good of the kids and the money we spent will go back to them through the rodeo's scholarship fund, plus we're donating the steer back to the rodeo, too," said Alan Kent, who with Martha Laney were the highest bidders for Peaches, which stood as grand champion out of 420 steers auctioned Saturday afternoon.

The night before the auction, 17-year-old honor student Caitlen Hope Doskocil from the tiny central Texas town of Buckholts burst into tears, but not because she would soon part with the steer she has raised and groomed for a year, whose fate, like most steers, would end as steaks, piped into sausage or ground as hamburger.

"I cried because I learned that I won," Caitlen said of the moment she knew she had beaten about 30 other teenagers from throughout Texas who had steers in the show named by judges as breed champions or reserve breed champions.

Peaches, she said, was one of about 60 steers she has helped to raise and show at Future Farmers of America competitions and rodeos.

After a decade of juggling classes and FFA livestock project showings, Caitlen said she no longer wants to raise cattle. As one of the top 10 honor students in her high school class, she has already been accepted to Texas A&M University.

"I'm going to major in biomedical science," she said. "My plan is to become a dentist."

Her tuition will be paid for from the 75,000-U.S.-dollar guaranteed portion of the total bid, the rest of which goes to rodeo's scholarship foundation on top of Peaches' resale value which also goes to the foundation, thanks to the generosity of the high bidders' donation.

Kara Doskocil, Caitlen's mother, said the whole family has been involved in raising cattle, including Caitlen's father and older brothers who have accumulated many blue ribbons, trophies and other prizes for many projects to which they have often become emotionally attached.

"It's a family thing," Doskocil said. "Peaches is a definite family pet. This morning we were very upset that we were losing him. Peaches usually acts like a little cocker spaniel dog."

Keeping Peaches as a pet is not an option, however, as he eats about 2,500 U.S. dollars in food a year, Doskocil said.

Kent said Peaches, 100,000 U.S. dollars less than the bid for last year's grand champion, was a bargain, and the fact that the money will be returned to the rodeo's scholarship fund to help educate students make Peaches even more of a worthy prize.

"This is to help educate the kids," Kent said. "We think the key to solving a lot of the world's problems is education."