140 



of feed required to make one hundred pounds of gain- 

 and the cost of the gains under the conditions of this 

 experiment: 



Table III. Qiianlity and cost of feed required to make 

 one hundred pounds of gain, December 18,. 

 1915, to March 24, 1916, (97 days.) 



A comparison of the costs of gains of Lot 6 and Lot 

 7 shows a very slight diflference in favor of Lot 6. In 

 this test one pound of cottonseed meal was equal to 

 two and one-half pounds of velvet beans in pods. Lot 

 7, however, consumed only two-thirds as much silage 

 as Lot 6. It is evident that the pods tended to reduce 

 the consumption of silage. The cost of making one 

 hundred pounds of gain was practically the same for 

 the two rations. This indicates that in this experiment 

 velvet beans in the pod at -$18.00 per ton were prac- 

 tically as profitable as high grade cottonseed meal at 

 $35.00 per ton. That is, according to this experiment, 

 a feeder could alTord to pay nearly half as much per 

 ton for unhulled and unground velvet beans as for a 

 ton of high grade cottonseed meal. 



Financial Statement, 



The statement for the feeding test is based on the 

 prices the steers actually cost and the local prices for 

 feeds. Steers of the same age and quality, fed under 

 similar conditions, should return the same profits on 

 the same rations. Prices of steers and of feeds vaiy 

 from year to year, so the feeder must make corrections 

 in his estimates for feeding operations on the basis of 

 local prices. 



Lot 6. Cottonseed Meal and Corn Silage: 



To 20 steers, 11780 lbs. @ 4.95 cents per ft. $583.11 



To 8120 lbs. cottonseed meal @ $35.00 per ton 142.10 



To 75750 lbs. corn silage @ $2.50 per ton 94.68 



To freight, yardage and commission 98. 00' 



$917.80 

 By sale, 6 steers, 5180 lbs. @ 7.90 per cwt. $409.22 



