10 May, 1916.J Cost of Production of Field Crops. 303 



This profit was made ou the following prices of produce: — 



Hay sold for £5 per ton in the stack on 10th November, 1915. 

 Straw sold for £1 19s. 7|d. per ton in January, 1916. 

 Wheat — Firsts, 4s. 9d. per bushel in barn. 

 Seconds, 4s. per bushel in barn. 



The hay and straw both realized prices above the average because 

 of the early market secured, while the wheat was valued at 4s. 9d., 

 and not sold. As it is stud seed, sown and harvested as such, a some- 

 what increased cost of production was incurred. But, for a purpose or 

 valuation, 4s. 9d. per bushel was taken as the marketable value of this 

 grain as a f.a.q. sample only. If, however, the actual value of the 

 wheat after grading had been reckoned in the balance-sheet, the net 

 profit would have been much greater; but this would be hardly fair 

 from a practical, wheat-growing stand-point. 



The individual profits from the three series of harvesting operations 

 actually carried out were : — 



1. — Harvesting the Uf.idlands for Hay. 



£ s. d. 



Value of hay ... ... 130 



12 acres. J Cost of production ... 35 7 5 



^Net profit ... ... 94 12 7 



A profit of £7 r7s. 8^,d. per acre was made, which is unusually large, 

 because of the very high price of £5 per ton realized by securing tlie 

 November market in a year of great scarcity. If, however, the present 

 value be taken, quite a lean margin of profit would be shown. 



2. — HarveHtiny with the Binder, Threshing, and Straw Pre.tsing. 



£ s. d. 

 [Value of wheat and straw ... 2,408 15 11 

 309 acres. ) Cost of production ... 1,355 lOf 



[Net profit ... ... 1,053 15 0} 



A profit of £3 8s. 2|d. per acre was made, based on f.a.q. wheat, at- 

 4s. 9d., seconds at 4s., and straw at £1 19s. 7^d. per ton. 



3. — Harvesting hy means of the Stripper and Winnower. 



£ s. d. 

 Value of wheat ... ... 143 7 2 



24 acres. J Cost of production ... 69 10 2^ 



Net profit ... . . 73 16 llf 



A profit of £3 Is. 6id. per acre was made; with the wheat at f.a.q. 

 value, 4s. 9d. ; and seconds at 4s. 



A comparison of the above two methods of liarvesting a crop of 

 wheat for grain will show that the profit per acre came out in favour of 

 the threshing and pre.ssing by 6s. 8d. per acre. This is. no doubt, due 

 to the ready market obtainable for the pressed straw, and the good 

 price obtained this season at WerriWe. 



