Appendix table IV 1. Marginal value products for selected resources with low 

 quality cows, $4.00 price of milk, various ratios of cows to cropland 

 and with and without sales of hay. 



Item 



Ratio of cows to cropland 



.10 .15 



.20 



.2.5 .30 .35 .40 



Cropland ($/acre) 



Dairy cow ($/head) 



Replacement ($/eacli) 



Buy hay ($/ton) 



Sell hay ($/ton) 



Marginal return 

 over feed cost.s 

 ($/cow) 



Marginal rate of 

 substitution of 

 cows for cropland 



Hay sales at ^27.00 per ton 



22 20 20 20 20 24 28 



36 24 18 9 9 4 



:!20 320 320 320 320 320 320 



13 13 14 14 14 1.") IG 



27 27 27 27 27 27 30 



151 148 14.5 145 



145 134 125 



— 1.6 ^1.2 —0.92 —0.47 -0.47 —0.18 



Marginal rate of 

 substitution of 

 cows for cropland 



Hay sales prohibited 



-9.9 —3.9 



-3.4 —0.83 



75 



