28 



as prime or in finished condition; 24 per cent, as choice or some 

 similar grade: L'n' per cent as good; 27 per cent as fair to medium 



and lo per cent as butcher stuff. 



TIIF. FINANCIAL I'HASF OF CATTLF FFFDIXG- 



In answer to question 77 " What margin between cost of feeders 



and selling pi-ice of steers is necessary to break even? " the highest 

 margin mentioned was s:>.()0 and the lowest was 20 cents per hun- 

 dred. The average of all answers was $1.07 per hundred. As this 

 includes the feeding of cattle of various ages and classes, to different 

 degrees of fatness or finish and through different lengths of feed- 

 ing periods, it would be fair to conclude that it is necessary for 

 cattle to increase 20 cents per hundred per month while fattening 

 for market. In other words, the cattle feeder thoroughly appreci- 

 ates the fact that it it impossible to finish cattle at a cost per hun- 

 dred equal to or less than their selling value, hence the profit in 

 feeding depends largely upon the margin between the buying price 

 of feeders and selling price of fat cattle. 



COST OF PRODUCING BEEF. 



The factors which control the cost of producing beef in the feed 

 lot are : the season of the year; the kind of ration fed; cost of 

 feeds; the age; the quality and type of steers; the previous treat- 

 ment and the condition of the cattle; the degree of finish attained; 

 the value of manure and pork produced. The reply to question 

 7> " What does it cost to produce a pound of gain in summer and 

 in winter ? " proves conclusively that gains are made more cheaply 

 in summer. The average of all answers was 7.2 cents in winter and 

 4.K cents per pound in summer. A difference of 2. 8 cents between the 

 cost of gains for the two seasons is entirely too great for cattle re- 

 ceiving a full feed of grain. The Missouri Station* has experimented 

 on this question for a series of years, the results of which show the 

 cost of gains to be 22 per cent greater in winter. It must be assumed 

 that in answering this question, a large number of feeders include 

 gains on steers which were grazed without grain which would neces- 

 sarily reduce the average cost for the summer season. The cost of 

 gains in winter is also somewhat lower than the results of the work 

 of the I'urdue Kxperiment Station in fattening for the market, 

 would indicate. Although the variation in price of feeds may ac- 

 count for considerable difference in cost of producing beef, these 

 figures seem to indicate that the cattle feeder does not fully appre- 



ri No. TI'.. Missouri Kxporirm-nt Station, Columbia. Mo. 



