lower. A fair estimate of the amount received by farmers in 

 jNIissouri during the last five years, for milk sold at wholesale 

 to go to the cities, is $1.50 per hundred pounds. The average 

 price for butter fat at creameries has been around 28 cents and 

 in some places probably even less, giving an income of not 

 much over $1 per hundred for milk sold to creameries, exclusive 

 of the value of the skim milk used on the farms for feeding 

 purposes. 



There is no question but that a portion of those producing 

 cream for the creamery or milk for cities in Missouri are not 

 making their expenses, that is, either they are not themselves 

 getting current wages or are receiving less than current interest 

 on their investment, or probably both. A large number are 

 really making a small profit, that is, a fair return for their 

 work, while a smaller number are making large profits for the 

 time and money expended. To put it in another way, those who 

 manage their business skillfully are realizing a good market 

 price for their feed at home, and are receiving good pay for 

 their labor and interest on their capital. 



Is IT POSSIBLE TO PRODUCE jMiLK AT A PrOFIT AT THE 



Present Prices? 



It seems to me that it is fair to raise the question as to 

 whether or not it is possible to produce milk at a profit under 

 present conditions. If it is being done by some, would it not 

 be worth while to study the conditions under which they are 

 doing it? The difficulty in considering the question, as already 

 intimated, is the impossibility of getting a fair estimate as to 

 the various items that contribute toward the expenses of milk 

 production outside of feed. There is plenty of evidence that 

 certain men are producing milk at a profit; at least we have 

 such evidence in my State. We can point to farmers who 

 began twenty years ago with little capital and w^ho have paid 

 for their farms and have a valuable herd of cattle, and who 

 have done so by the production and sale of milk. Unquestion- 

 ably, similar examples could be cited in other States. Further 

 than that we can refer to actual figures as taken from various 

 sources. 



The following two tables, taken from our records, show the 



