26 



In the above summary the price of feeds are as follows for 

 1909-10 : clover hay, $10.00 per ton ; cottonseed meal, $33.00 per ton ; 

 corn silage, $3.50 per ton; shelled corn, first month, 49.9 cents; 

 second month, 55.7 cents; third month, 56.7 cents; fourth month, 

 53.7 cents; fifth month, 51.9 cents; last 10 days, 50.2 cents per 

 bushel. 1910-11: shelled corn, first month, 36.1 cents; second 

 month, 37 cents; third month, 37.8 cents; fourth month, 36.9 

 cents ; and fifth month, 39.3 cents per bushel ; cottonseed meal, $30.00 

 per ton ; clover hay, $10.00 per ton ; corn silage, $3.00 per ton. No ac- 

 count is included of the straw used as bedding nor of labor of 

 feeding. Neither is there any account of the manure produced. 

 The prices of feeds used are what they were worth in Lafayette 

 during the progress of the experiments. .The pork produced from 

 the droppings is considered a by-product of the cattle feeding oper- 

 ations and must be added to the receipts from the cattle. In 

 1909-10 the number of hogs in each lot varied somewhat according 

 to the condition of the lots. However, there were usually five 

 hogs in each of the first three lots and 10 hogs in Lot 4, the latter 

 being fed shelled corn in addition to the droppings, while those in 

 Lots i, 2, and 3, were fed nothing extra after the first 10 days. 

 For this reason the "profit including pork" in Lot 4 is not entirely 

 comparable with the same item in the other lots where no additional 

 grain was fed, after the first 10 days. In 1910-11, there were 

 eight hogs per lot and they received no grain after being placed 

 in the feed lots. Pork produced in 1909-10 is valued at nine cents 

 per pound, and that produced in 1910-11 at six cents per pound. 

 The grain fed the hogs in 1909-10 is valued at 53 cents per bushel 

 and its value is deducted from the value of the pork actually pro- 

 duced before the pork produced from the droppings is accredited 

 to the receipts from the cattle. 



The unusually large returns of 1909-10 and the extremely 

 small profits of 1910-11 are due to the condition of the market at 

 the end of the two trials. The spring of 1910 saw an abnormally 

 high market for all classes of meat animals, while, considering 

 the high price of feeding cattle in the fall of 1910, the spring of 

 1911 witnessed a very dull and unsatisfactory market. Considering 

 the trial as a whole, the ration of shelled corn, cottonseed meal, and 

 clover hay proved to be the least profitable of the four. This was 

 not due to small gains or a lack of finish on the cattle but to the 

 greater cost of gains. With the initial weight of 889.5 pounds 

 in 1909-10 and 1121.3 pounds in 1910-11 at a cost in the feed lots 

 of $4.65 and $5.00 per cwt. respectively, the necessary margin 

 to come out even on the cattle was $1.84 per cwt. in the former 

 case and $1.16 per cwt. in the latter. The selling price was 



