99 



FINANCIAL STATEVIKNT OF LOTS 4 AND 5. 



Lot 4 — CottonscMHl cake and pasture: 



To 18 steers, 12,5()() lbs. at $4.41 per cwt.. .$554.16 



To 12,770 lbs. cuttoriseed cake at $26.00 



per ton 166.01 



To pasture for SVi months at 50 cents a 



month 47.25 



767.42 



By sale 18 steers, 15,064 lbs. at $4.50 per 



cwt $677.88 



Total loss 89.54 



Loss per steer 4.97 



Lot 5 — Cottonseed cake and pasture : 



To 17 steers, 11,494 lbs. at $4.60 per cwt. $528.72 



To 12,061 lbs. cottonseed cake at $26.00 a 



ton 156.79 



To pasture for 5V4 months at 50 cents a 



month 44.62 



730.13 

 By sale 17 steers, 13,978 lbs. at $4.50 per 



cwt ■ $629.01 



Total loss 101.12 



Loss per steer 5,95 



It is seen that the steers in both of these lots were 

 fed at a loss, each steer losing $4.97 and $5.95 in Lots 

 4 and 5 respectively. It should be noted that the ex- 

 pense of feeding these cattle through the previous win- 

 ter is also charged against them in the above statements. 

 The steers in Lot 4 w^ere fed through the previous win- 

 ter on cottonseed meal and hulls, while those of Lot 5 

 had some Johnson-grass hay added to the basal ration 

 of cottonseed meal and hulls. More money was lost 

 on the steers in Lot 5 because of the fact that Johnson- 

 grass hay increased the expense of the winter ration^ 



(See page 87.) 



