Can't remember the artist or any lyrics but the story in the song is about a hotshot cowboy at a rodeo and entered into the calf roping event. He makes his run and scores really low and in his head he is counting his win. Into the grounds pull an old station wagon full of ragtag kids and pulling an old beat up horse trailer. Out steps an old lanky cowboy and leads out an old looking horse. He is entered in the event and the hotshot is wondering if the horse or rider will survive. When he makes his ride he beats the hotshot buy a couple of seconds.

If someone knows this I would be so grateful.

Come on cowboys. Cowboy up and name that tune.

You tell the story quite well but still the clues are insufficient: Where have you seen this music, in a movie or on a video on youtube or sw else? In any case I'd suggest you search the Allmusic.com 's categories that is the country / cowboy music category and try the findings on Youtube. Allmusic's related artists section might help too

The closest I can find is Tex Morton - Aristocrat. It doesn't mentions kids though. Maybe it will lead you to the correct song.

Another year and still looking

Over 5 years now. Maybe some new member will recoginze it.