328 



freight, commission and feed from the time the steers were bought 

 until December 22, when the experiment began, the steers cost $4.18 

 per cwt. The steers were sold in Chicago the day following the 

 close of the experiment at $5.35, $5-35 and $5.00. The hogs were 

 sold at $6.35 per cwt. on the same day. These figures have been 

 used in making the financial statement. The total amount of feed 

 used is given in the table so that the cattle feeder may substitute 

 local prices in each statement to find what the profit would have 

 been under similar conditions in his locality. 



It will be seen that the steers which were fed on corn and clover 

 hay returned a profit of $19.78 over and above the cost of their feed, 

 without counting the pork produced. When the pork produced is 

 taken into consideration the profit was increased to $86.20, or look- 

 ing at it another way, the corn fed brought 57.3cts. per bushel when 

 clover hay was $6 per ton. 



The steers fed on ear corn, linseed meal, shredded stover and oat 

 straw did not pay for the feed they consumed, but when the receipts 

 from hogs were added to those from cattle the profit over and above 

 the cost of feeds amounts to $45.68, or corn fed brought 48^ cts. per 

 bushel, when linseed meal was worth $28, stover $3 and oat straw $2 

 per ton. 



The steers fed on ear corn, shredded stover and oat straw 

 showed a decided loss without taking into account the receipts from 

 pork produced. The profit with pork produced was only $12.59, or 

 42^2 cts. per bushel of corn. 



The financial statement is satisfactory under conditions prevail- 

 ing during the winter and spring of 1905-06. There are many fac- 

 tors not brought .out fully in this statement, which influence the profit 

 and loss in feeding cattle. Suffice it to say that this is simply a re- 

 port of progress. At some future date these factors will be taken 

 up and discussed more thoroughly. 



