In the springtime, Jody walks home from school. He drums on his lunch pail, then fills it with toads, lizards, and other small insects. When he arrives at the ranch, he brings in the mail. His mother tells him to go and see his father out by the barn. Jody leaves the lunch pail and ignores his mother’s screams when she discovers what’s inside. Carl and Billy are near the pasture looking at a mare named Nellie. Carl offers to have Nellie impregnated by their neighbor’s horse and give Jody her colt. Jody agrees to work hard on the ranch in order to earn his new horse.

After finishing his evening chores, Jody goes to see Nellie. Billy, after milking a cow, warns Jody that he will get bored while waiting for the colt to be born. Jody disagrees. The next day, Jody takes Nellie to Jess Taylor’s ranch. A stallion named Sundog impregnates her, and Jody gives Jess five dollars.

During the spring and summer, Jody diligently does his chores around the ranch and visits Nellie every day. One day, Jody complains to Billy that Nellie isn’t showing after three months. Billy explains that Jody won’t be able to ride the colt for two years.