For simple, safe, portable, and inexpensive evaluation suitable for leg bone diseases of racehorses in the field, an ultrasonic measurement technique was applied to evaluate wave velocities. A digital model of the third metacarpal bone with the bucked shin was fabricated using high-resolution peripheral quantitative computerized tomography data of a racehorse. This model was anisotropic and heterogeneous, and was constructed using the measured ultrasonic wave velocities in the bone. With this model, ultrasonic wave propagation along the bone axis was simulated using the elastic finite-difference time-domain method. We found two main waves with different propagation velocities. The fast-waves showed a wave velocity close to the longitudinal wave in the axial direction. However, the apparent velocities changed dramatically owing to bone surface irregularities (changes of the shape) in the area of bucked shin. The slow-waves showed a wave velocity close to the shear wave, which was unaffected by the bone surface irregularities. The simple comparison of different wave behaviors may be a suitable parameter for the initial in vivo screening of bucked shin in the legs of racehorses, which can be performed in the field.