603 



Table II shows that the average valuation of the calves at the 

 beginning of the test was 32 cents per hundred higher than that of 

 the two-year-olds and 35 cents higher than that of the yearlings. 

 Their average weight was 535.5 pounds less than that of the two- 

 year-olds, or not quite one-half as great, and 322 pounds less than 

 that of the yearlings. The calves required 90 days and the yearlings 

 20 days longer feeding period than the two-year-olds, to make them 

 prime. The average daily gain of the calves was .61 pound per 

 head less than that of the two-year-olds and .34 pound less than 

 that of the yearlings. 



The average of the three trials shows that the total amount of 

 concentrates (shelled corn and cotton-seed meal) required to finish 

 calves was 3520.5 pounds per head; yearlings, 3547.9 pounds and 

 two-year-olds, 3704.6 pounds. On account of the inability to secure 

 a sufficient amount of silage for feeding during the third year a 

 direct comparison cannot be made in the average amount of rough- 

 age consumed. By reducing all to a dry matter basis it will be found 

 that the average amount of dry matter consumed in roughage by 

 calves was approximately 1745 pounds ; by yearlings, 2015 pounds and 

 by two-year-olds 2041 pounds, showing that the older cattle con- 

 sumed a greater amount of roughage as well as concentrates and 

 that the proportion of roughage to concentrate was greater. 



With uniform prices for feeds, the table shows that it cost 82 

 cents less to fatten a calf than a yearling and $2.60 less than a two- 

 year-old. This difference was so little that the feeder who intends to 

 fatten calves, yearlings or two-year-olds might consider that it will 

 take an equal amount of feed in either instance. While the initial 

 weight of the calves was much less than that of the older cattle it 

 was necessary to secure an additional gain of 60 to 65 pounds per 

 head in order to make them equally fat as the yearlings or two-year- 

 olds at the time of marketing. The gains on calves amounted to 103 

 per cent., on yearlings 54 per cent, and on two-year-olds 43.6 per 

 cent, on their initial live weight. 



There are four factors, the initial cost per hundred, the cost of 

 gains, the initial weight and the amount of gain required in fattening, 

 which control the margin necessary to break even in finishing cattle. 

 In these experiments, the initial weight and the gains necessary for 

 finishing the two-year-olds had a greater influence in reducing the 

 necessary margin than the initial cost per hundred and the cheaper 

 gains made by the calves. With yearlings, the difference in the in- 

 itial weight and in gains required for finishing as compared with the 

 calves, was not great enough to overcome the advantage due to the 

 cost per hundred and the decreased cost of gains on calves. 



The average selling value under actual market conditions dur- 



