SELECTING STEERS FOR FEEDING 27 



The element of risk is excluded by selling to local buyers, for 

 the home market is always steadier than is the larger market; 

 and incidental expenses are reduced to the minimum. 



If the cattle are fit and must be sold, and the market is declin- 

 ing, it is wise to sell at home. It is not wise to ship on a falling 

 market unless there is a good leeway between the price per 100 

 pounds at home and the price on the market. The difference 

 should be considerably more than what the cattle would probably 

 shrink in pounds times the price per pound, because there are 

 freight, terminal, and commission charges to be paid. Some 

 leeway or difference should also be allowed for risk and the prob- 

 able drop in price that may occur between the time of shipping 

 and the arrival on the market. 



The man who sells at home has the advantage of the experience 

 of the home buyer, who knows better at what time to ship to get 

 the best price on the market. The small raiser or feeder, even 

 though he doesn't get the shipper's profit, generally sells at a 

 time when the local market is highest. 



The second method, or shipping to the market, has many 

 advantages for the man who has two or more cars of stock in 

 fit condition to sell. The producer gets all the possible profit 

 that might go to the local buyer. (At the same time he assumes 

 the risk of losing.) 



He becomes familiar with the big market and has an oppor- 

 tunity to study types and values which are governed by the use 

 to which the cattle are put and the demand for and the supply 

 of cattle. 



He gets a more intimate knowledge of the cattle market and 

 its operation, from a broader viewpoint. 



He comes in contact with men from other sections of the coun- 

 try, gets their ideas and opinions, and obtains information of 

 great value on the proposition of buying, feeding, and marketing. 



He learns that there are certain seasons of the year when he 

 can sell to better advantage than at other seasons. 



If he has many cattle to sell, he will find a certain commission 

 firm taking a special interest in his welfare. They will keep 

 him posted accurately on the conditions at the market and con- 

 cerning the most advantageous time to sell. 



