Florida Agricultural Experiment Station. 



Fig. 8. Steers of Lot IV at beginning of test. 



Fig. 9. Steers of Lot IV at end o 



The above table shows the cost of the feeds consumed and the loss 

 on each lot of steers, figuring the feeds at the cost delivered at the 

 railroad station. 



It will be seen from the table that all steers were fed at a loss 

 varying from $11.62 to $34.86 per lot. This may be accounted for in 

 three ways. First : the financial condition of affairs throughout the 

 United States during the past winter was such that the prices of such 

 products were considerably lower than if conditions had been normal. 

 In fact there were very few if any cattle purchased before November 

 1, 1907, and fed out drring the winter, but what were fed at a loss of 

 $5 to $10 per head. This does not apply to Florida alone, but to the 

 entire cattle-feeding section of the United States. 



Second: the steers were fed late in the season, and at the time 

 the cattle were sold, grass-fattened animals were being put on the 

 market; hence the prices at the time were lower than they had been 

 a month earlier. The buyer said at the time, that if the steers had 

 been put on the market a month earlier, they would have been worth 

 $.04 a pound, which is $.50 a hundred more than what they brought. 



