262 PRODUCTIVE FEEDING OF FARM ANIMALS 



is generally made for the "shrink" in weight between the place 

 where sold and marketed. This allows for the loss in weight that 

 occurs during transportation, and varies according to the distance 

 traveled and methods of transportation, as well as the system of 

 feeding and handling of the cattle prior to shipping. The shrinkage 

 is generally figured at 3 to 4 per cent. On a 1000-pound steer this 

 will mean a deduction of 30 to 40 pounds for which no pay is 

 received. The United States Department of Agriculture has made 

 careful studies of the various factors that influence the shrinkage 

 in weight of beef cattle in transit. 10 It was found that the shrinkage 

 of range cattle in transit over 70 hours during a normal year is 

 from 5 to 6 per cent of their live weight. If they are in transit 

 36 hours or less, the shrinkage will range from 3 to 4 per cent 

 of their live weight. The shrinkage of fed cattle does not differ 

 greatly from that of range cattle for equal periods of time. It 

 varies from about 3 per cent with all of the silage-fed cattle and 

 4.2 per cent with the corn-fed cattle when both classes of these 

 animals were in transit for less than 36 hours, to 5.4 per cent for 

 the pulp-fed cattle which were in transit from 60 to 120 hours. 



The Spread or Margin. — The profit in beef raising depends 

 not only on the gains made by steers during fattening period, but • 

 fully as much on the price at which the steers are bought and sold. 

 The difference in the latter two figures is known as "spread" or 

 "margin"; this is given per hundredweight or pound. If feed- 

 ing cattlei are bought at, say, 6 cents a pound and sold at the end 

 of the fattening period at 7 cents, there is a margin of 1 cent per 

 pound, or $1.00 per hundredweight. As the feed consumed by the 

 steers frequently costs more than the value of the gain secured, it 

 is important, in order to "break even," that there be a certain 

 margin of profit. This may vary from % to iy 2 cents per pound. 

 Unless the feeder gets the benefit of the improvement in quality that 

 occurs through the fattening process, he is not likely to come out 

 even, and it is evident that the better he' buys, the smaller margin 

 will be required to make the feeding profitable ; hence the old say- 

 ing among stockmen, that " Well bought is half sold." 



The margin depends on at least five factors. The purchase 

 price, the weight of animals bought, the gains made, the cost of the 

 feed eaten, and the selling price. The manner in which each of 

 these factors influences the profit of the feeding operations will be 

 readily seen on reflection. 



Cost of Feeding Beef Cattle. — The proportionate cost of the 



10 Bulletin 25. 



