Live Stock Breeders* Association. 163 



olds, on the basis of the results with shelled corn alone, at 63 cents 

 per hundred less than yearlings, or to sell them when finished at 

 42 cents per hundred more, whereas in the case of the gluten-fed 

 lot the buying price for the three-year-olds need only be 25 cents 

 per hundred less, or the selling margin 18 cents per hundred more. 

 The average of all the lots shows that a difference in the buying 

 price of 42 cents per hundred would need to be made in favor of 

 the three-year-olds, or a selling difference of 30 cents per hundred, 

 in order to fully offset the increased cost of gains. 



It is of interest to note that the average selling price of the 

 yearlings in this experiment was $6.20 per hundred and of the 

 three-year-olds 6.80, or a diilerence in favor of the older cattle of 

 60 cents per hundred. It should be stated, however, that these fig- 

 ures are not strictly comparable, inasmuch as the two classes of 

 cattle were not sold on the same market and were marketed a week 

 apart. In fact, out of the three-year-olds a show lot of fifteen 

 head were selected and exhibited at the Pittsburg Fat Stock Show, 

 where they won second prize and brought at auction the following 

 day $7.10 per hundred, which was the record price for the year in 

 any market for cattle of that weight, viz. : 1,700 pounds. The 

 eleven discards were sold in St. Louis on the way to Pittsburg for 

 $6.40 per. hundred, making an average for the entire lot of $6.80. 

 A week later, on a less favorable market, the yearlings were 

 offered in St. Louis and later sold in Chicago for an average of 

 $6.20 per hundred. 



In practically all the trials, therefore, it seems that the older 

 cattle sold for practically enough more per hundred pounds than 

 the younger animals, to fully offset the difference in cost of gains 

 required to fit them for market. If these data may be relied upon 

 in this matter, then the advantage in cutting down the cost of 

 gains by feeding young animals is neutralized by the higher price 

 for which the older animals sell, in case they are both fed some- 

 thing near the same length of time. 



Eliminate this difference in selling price by making both 

 classes equally fat, and the large difference in the cost of gains 

 reported especially for the earlier trials will be very materially 

 reduced. To what point they will be reduced remains for future 

 investigations to determine. 



Reference has already been. made to the influence of age upon 

 the cost of feeders, and it was there shown that a six-months-old 

 calf, at weaning time, brings on the average a higher price per 

 pound than at any subsequent period in its life, except when finally 



