Cost of feed, $73 03 



Labor, 32 33 



Delivery, 7 18 



Housing, 9 05 



Depreciation on cow, 8 83 



Bedding, 4 00 



Bull, 3 79 



Taxes and interest, 4 55 



Ice, and coal and wood for heating, 2 17 



Veterinary service and medicine, 87 



Tools, utensils, salt, etc., 53 



Cow Test Association, expenses per cow per year, . . . 1 40 



Credit. 



INIanure, 



Calf, 



$129 73 



The total cost of keeping a cow under farm conditions as 

 found in New Hampshire is $147.73; of this amount $73.03 

 represents the feed cost, while other expenses, or what may 

 be termed "fixed charges," represent $74.70, or in this case 

 one-half of the total cost. 



To oflFset the total cost of keeping a cow are the following 

 factors: (1) the milk produced; (2) the manure; and (3) 

 the calf. 



The value of the manure and calf is considered equivalent 

 to $18 per year; subtracting $18 from $147.73 leaves $129.73, 

 the balance to be covered by the milk produced. In other 

 words, it costs $129.73 to produce 6,463.2 pounds of milk 

 with an average of 3.76 per cent, fat, or 4-3 cents per quart. 



The fact that 103 cows found to be unprofitable were sold 

 before the end of the year makes the average production 

 higher and the cost of production lower than it would have 

 been if these cows had been retained for the whole vear. 



Production Necessary for Profit. 

 As the average price for milk in the different zones varies, 

 the following table will make it possible to make comparisons 



