SMALL HOLDINGS 197 



— which is the approximate value for stock 

 feeding, whether calves or pigs — we get a 

 total gross return of £12 10s. 6d. per 

 cow. If, however, we estimate the value 

 of the butter produced by a cow yielding 

 700 gallons of milk and producing 1 lb. 

 of butter per 25 lb. or 2| gallons, we 

 get a gross return by the same method 

 of calculation of £20 7s. lid. per cow, or 

 £101 19s. 7d. for five cows, while for ten cows 

 the return would represent £203 19s. 2d. 

 We have seen that the cost of feeding a cow 

 cannot be placed at less than £13 a year, 

 so that an average cow employed to produce 

 butter will lose money for her owner, while 

 the profits realised from a small herd of five 

 cows yielding 700 gallons of milk of much 

 higher quality would fail to pay sufficiently 

 well to enable him to make butter his chief 

 article of produce. 



Prima fade, a cow returning £20 7s. lid. 

 should be regarded as a useful animal, and 

 one which could be depended upon to 

 assist the small holder to pay his rent; 

 but the fact remains that it is more profit- 

 able to sell milk at the average wholesale 

 price of 8d. per gallon than to make butter at 

 lid. per lb. The question arises : What is 



