40 



BEEF PRODUCTION 



The following table, figured out in the same manner, 

 shows the effect of price of feeds on possible profits: 



EXHIBIT B 



* These figures represent losses. 



This table does not mean that profits in cattle feeding 

 are impossible when corn is worth over 40 cents per 

 bushel, with clover hay at $10 per ton. It does mean, 

 however, that with the conditions stated that a larger 

 at-home margin between buying and selling price than 

 $1.25 per hundredweight is required to make the 

 enterprise profitable. 



RELATION 7 OF INITIAL WEIGHTS OF FEEDING CATTLE 

 TO PROFITS ON FINISHED BEEF 



The initial weight of feeding cattle has a direct 

 bearing upon possible profits in cattle feeding. In 

 practice it is difficult to secure examples where differences 

 in initial weight of feeding cattle selected for the feed 

 lot are the only differences. In other words, it is not 

 likely that a 750-lb. feeding steer will be of the same 

 age, thrift, condition, quality, and price as a 1050-lb. 

 steer. In most instances, differences other than differ- 

 ences in initial weight would also have a direct bearing 

 upon the feeding qualities and possibilities of feeding 

 cattle. In order, however, to make clear the principle 

 involved in variations in initial weight of feeding cattle 

 it will be necessary to assume that we are dealing with 

 this factor only. Perhaps the best way to consider this 



