It's the stanza of a comic song by Les Luthiers, titled "The explained", where they replace the last word of each stanza (a word related to the rural life in the Argentinian Pampa) with its definition.The horse in its corral
The pig in its pigsty
The _________ in its nest
And the peasant is his: a kind of hut far from a town with or without walls and that can protect whatever is needed from the elements
No comprende.
I just wanted to know the bird species Not_Karl saw.
This one would be:
El caballo en su corral
En su chiquero el chancho
En su nido el carancho
Y el paisano es su rancho (except that they replace rancho with its definition)
(as you can see rancho rhymes with chancho and carancho, but they never say rancho, it is supposed to be deducted from the rhyme and definition, and half of the sketch is the members of the band trying to figure out the word)
Which, as you said (and completing it) would be:
The horse in its corral
In its pigsty, the pic
In its nest, the crested caracara
And the peasant is his shack (but replacing shack with its definition)
But the blank that I gave you to fill (and for which I provided the answer and not_karl had already provided the English wiki page in his original post) was the name of this bird in Spanish: Carancho.