VALUING DAIRY STOCK 



251 



This table shows that the cost of raising an ordinary 

 two-year-old heifer may be taken on an average to be 

 $37 and that this cost is not materially increased for high- 

 class heifers. 



The following table shows that the market value as- 

 signed to calves from the higher producing cows is low 

 in comparison with the market value of the cows them- 

 selves : 



The table shows that it is unquestionably more profit- 

 able to keep heifer calves until two years old than to sell 

 them as calves. 



VALUING BULLS. 



In estimating the relative value of bulls capable of pro- 

 ducing cows yielding annually 200, 300 and 400 pounds 

 of butter fat respectively, it is assumed that each bull will 

 produce fifteen heifer calves and fifteen bull calves an- 

 nually. The relative value of the heifers from the differ- 

 ent bulls, is based upon the relative net profits obtained 

 from the cows as determined under "Valuing Cows," 

 page 244. The bull calves from the different bulls are 



