252 DAIRY FARMING 



given values corresponding to those given the calves in 

 the calculation just referred to. 



Since cows producing only 200 pounds of butter fat a 

 year are maintained at only a small profit, bulls capable 

 of producing such cows will not be considered here. By 

 referring to the figures showing the net profits from cows 

 of different productive capacities it will be found that cows 

 yielding 400 pounds of butter fat a year will produce an- 

 nually $16.70 more net profit than those yielding 300 

 pounds of butter fat. The immediate increased value of 

 the fifteen heifer calves from the 4OO-pound bull will, 

 therefore, amount to $16.70X15, or $250.50. 



Since these heifers will produce for a period of eight 

 years, the real annual increased value represented by the 

 fifteen heifer calves from the better bull will amount to 

 $250.50X8 or $2,000.00. Adding to this $180 as the in- 

 creased value of the fifteen bull calves, we have a total 

 of $2,184 which represents the total annual increased value 

 of the offspring from the 4OO-pound bull over that of the 

 3OO-pound one. Allowing six years as the period of use- 

 fulness of bulls, we get a grand total of $13,104 in favor 

 of the 4OO-pound bull during his six-year period of use- 

 fulness. 



If we value the 3OO-pound bull at forty dollars and the 

 4OO-pound bull at $150, it will be necessary to deduct from 

 the above the difference in the interest, taxes, risk and 

 depreciation of the two bulls. These items, if figured the 

 same as for cows, will amount to $172.68 for six years, 

 leaving a net profit of $13,031.32 in favor of the 400- 

 pound bull during his period of usefulness. 



If we value heifer calves according to the net profits- 

 obtained from cows when the latter are raised upon the 

 farm, the differences found above will be considerably 

 greater. 



