The Bulletin. 



15 



were included, tlie comparative results would be tlie same. However, the 

 total profit per steer would be reduced. The final results in either case 

 lead to the same conclusions. 



In the financial statements all items of expense are iiicluded from the 

 time the cattle were loaded in the mountains until they were loaded for 

 shipment to the final consuming market. The only difference in these 

 two statements, that is, the experimental data and the financial state- 

 ment, is that the first is comparative and the second absolute. The ex- 

 j)erimental statements show what would result if a certain practice was 

 followed on the farm, while the financial statements show what actually 

 occurred in this particular experiment from a practical standpoint. 



All of the fundamental data obtained during the experimental period 

 are summarized in the following table. The value of the cattle at the 

 beginning of the experiment was the same, while at the close there was 

 a difference of 20 cents per cwt. affixed by three parties in close touch 

 with market conditions. The initial weight of the cattle was practically 

 the same, while there was a variation of only three-tenths of a pound in 

 the average total gain per steer. 



Table 3— SUMMARY OF COMPARATIVE RESULTS OBTAINED FROM FEEDING 



BEEF CATTLE. 



November 3, 1913, to February 

 22, 1914, Inclusive— 112 Days. 



Lot 1— 



24 Steers. 



Cotton-seed 



Meal and 



Cotton-seed 



Hulls. 



Lot2— 

 24 Steers. 



Cotton-seed 



Meal and 

 Corn Silage. 



Initial value per cwt 



Average initial weight, pounds 



Average final weight, pounds 



Total gain per steer, pounds 



Average daily gain per steer, pounds. 



5.75 

 882.4 

 1,064.0 

 181.6 

 1.62 



Cost of feed per cwt. gain 



Valuation of steers per cwt 



Profit per steer (comparative).. 



Profit per steer, all expenses included (per financial statement). 



Average profit per steer, exclusive of manure.. 

 Average profit per steer, including manure 



11.43 

 7.50 

 8.29 



5.75 

 883.8 

 1,066.0 

 182.2 

 1.63 



10.92 



7.70 



11.36 



3.7S 



2.19 

 11.84 



