THE COST OF FEED II 



on the basis of a legitimate interest on the value of the land. 

 Five per cent is the basis used throughout this paper. All 

 authorities do not agree that interest, or rent, should be charged 

 on land that is owned. If interest were not charged on owned 

 land, it would be better for the farmer to have his money 

 invested in good bonds which would return dividends and pay- 

 interest on a farm mortgage, and to include this interest in 

 the farm cost, or rent. The interest must be borne by the 

 owner of the land in some way, so that if it is not included in 

 the cost, it must be deducted from the profit, (3) to estimate 

 the general expense, which includes taxes, making and repair- 

 ing fences, seeding or reseeding, and fertilizing. Pasturage, 

 therefore, would be computed as follows: 



1. Value per acre multiplied by 5 per cent, which may be 

 considered as rent. 



2. General expense, which on the average will be about $1 

 per acre.^ 



3. Acres required per cow per season, or estimated on the 

 basis of cost per cow per month. 



The formula for pasture cost where land is worth $50 per 

 acre and would pasture one cow on two acres for 5 months 

 would be as follows: 



Rent $2.50 



General expense i.oo 



Cost per acre $3.50 



Two acres per cow $7.00 



The cost of pasture for the season would be $7, or, on a 

 basis of 5 months, $1.40 per month. 



Now having determined the items of roughage and pasture 

 which have such an important effect upon the cost of produc- 

 tion, the grain ration must be considered. This in turn is 

 dependent upon the size of the cow, and has a direct relation 

 to the quantity and quality of milk produced. 



The idea of the pre-calculated cost accounts for milk prob- 

 ably will be accepted without question except in the part that 



' N.Y. Agr. Exp. Sta. (Cornell), Bull. No. 364, p. 126; computed from 

 Table V. 



