Fattening Sheep 259 



foods for fattening sheep, it has been the custom to 

 compare them on the basis of the cost of 100 pounds 

 of gain, overlooking the increased value per pound 

 that the sheep realizes in the market because of 

 the improvement that has been made during the 

 feeding period. It is but a moderate advance to 

 consider that sheep that are bought as feeders at 

 5 cents per pound will bring 6 cents per pound when 

 sold after fattening. In estimating the profits from 

 any ration, the ration should be credited with this 

 increased value per pound of the sheep. 



Buying sheep to fatten. — The profits of buying 

 and fattening sheep depend upon two things : the 

 cost of the gains and the difference between the 

 buying and selling price, or the margin. If feed is 

 high and gains therefore expensive, a wide margin 

 will be required. If there is a wide difference be- 

 tween buying and selling prices, there may be a 

 profit even though the amount of weight put on 

 when sold should not repay the cost of the feeding. 

 The increased value of the purchased weight in such 

 a case amounts to more than the gains lacked of 

 paying for the feed eaten. 



The success of speculative feeding depends upon 

 the ability brought to bear in buying the feeders. 

 The buyer must select sheep that will gain economi- 

 cally and sell well when finished. He must also se- 

 cure them at such a price as to have a fair chance of re- 

 ceiving a satisfactory margin over the purchase price. 



