The 2014 American Royal Livestock Show is underway, and new records are being set. The American Royal Association's Junior Premium Livestock Auction broke its previous record, and raised more than $600,000 this year, Leslie Collins reported for the Kansas City Business Journal.

Breaking a record, the Grand Champion Market Steer sold for $200,000 to Cerner Corp.'s chief executive officer Neal Patterson and his wife Jeanne Patterson. The Patterson's won the auction for the third year in a row, after paying $170,000 for the Grand Champion Market Steer last year and $100,000 for the winning steer in 2012.

This year, three other categories broke records, including the Reserve Grand Champion Steer, which sold for $100,000 to the Kemper Foundation and "Chairman's Posse." The Grand Champion Market Goat and Reserve Grand Champion Market Goat both set records, as well.

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