729 



average farm the manure more than pays for the labor and bedding. 

 The prices of feeds are such as were paid in Lafayette during the 

 progress of the trial. The pork produced from the droppings of the 

 cattle is considered a by-product of the cattle feeding operations and 

 its value is added to the receipts from the cattle. There were nine 

 hogs in each lot throughout the trial. Grain was fed the hogs when 

 the condition of thejots prevented their receiving sufficient feed from 

 the droppings alone. The grain fed the hogs is valued at 57.8 cents 

 per 'bushel and its cost is deducted from the value of the pork actually 

 produced before the pork produced from the droppings is accredited 

 to the receipts from the cattle. 



The profits shown in this trial are typical of the results secured 

 from feeding cattle during the spring of 1912. Nevertheless, such 

 large profits should not mislead anyone in regard to the profits from 

 cattle feeding. In spite of high cost of feeding cattle in the fall of 

 1911 and the abnormally high cost of roughage the extremely high 

 price paid for fat cattle in the spring and summer of 1912 rendered 

 the cattle feeding operations the most profitable for many years. 



The table shows that Lot 2 fed corn, cottonseed meal and clover 

 hay returned the least profit of any of the four lots. The only reason 

 for this was the extremely high cost of gains. With an initial weight 

 of 966 pounds per head and a cost in the feed lot of $5.55 per cwt, 

 the cattle in this lot would have had to sell for $8.00 per cwt. in the 

 lots without shrink in order to make them come out even. When the 

 15 cents per cwt. for buying feeding cattle and 40 cents per cwt. for 

 marketing fat cattle are added to this necessary margin it makes the 

 difference between the buying price on the market and the selling 

 price on the market $3.00 per cwt. The actual selling value in the 

 lots was $8.25 per cwt. which was high enough that the cattle re- 

 turned a profit of $3.37 per head. When the pork produced is added 

 to the returns from the cattle, the profit per head was increased to 

 $8.24. These returns are not large even when such a wide margin 

 between the buying and selling price of the cattle is considered, 

 because of the high price of clover hay. 



When one-half the clover hay was replaced by corn silage, no 

 change was made in the actual margin secured because the cattle of 

 the two lots were valued the same at the end of the fattening period. 

 There was, however, large enough reduction in the cost of gains that 

 the cattle fed silage once daily could have sold for $7.47 per cwt. in 

 the lots and made the same returns as those not fed silage, had they 

 sold at $8.00 per cwt. Since the cattle sold for the same price, the 

 profit per steer was increased from $3.37 to $10.51 by the addition of 

 silage once daily to the ration. When pork is considered this profit 

 was increased to $17.09 per steer. In this trial it is noted that the 



