2 BULLETIN 413, U. S. DEPARTMENT OF AGRICULTURE, 
The fact that the average of the estimates for each class remained 
practically constant after the first thirty replies had been averaged 
is some evidence as to the accuracy of the figures. The estimates 
secured by correspondence agree very closely with those secured 
through personal visits. While figures concerning the values of 
dairy cows and farm work horses were obtained from nearly every 
important agricultural district in the United States, most of the esti- 
mates were secured from New York, Pennsylvania, and the North 
Central States. In this work appreciation and depreciation were 
based on age only. In order to eliminate everything except age, the 
animal was assumed to be in perfect health and to have a fixed value 
at a certain age. 
Four breeds of dairy cattle, Holstein, Guernsey, Jersey, and Ayr- 
shire, were included in these investigations. No attempt was made | 
to find the actual average value of animals belonging to any breed. 
Arbitrary values were assumed for a certain fixed age, merely to get 
a starting point from which to work. Thus for each breed estimates 
were based on four classes of 3-year-olds, namely, the $80 grade 
cow, the $100 grade, the $200 purebred, and the $300 purebred. If 
the cow was assumed to be with calf at 3 years of age, she was con- 
sidered to have reached the same stage of pregnancy each succeeding 
year. In the case of purebred stock changes in the advanced registry 
of the cow herself, or of other animals related to her, were not con- 
sidered in estimating values. 
The farm work horse was assumed to have a maximum value of 
$250 when in his prime, which is a fair price for very good farm 
horses. Brood mares were excluded, as their value is not necessarily 
the same as that of animals kept for work only. 
In so far as age affects values the tables presented in the bulletin 
should be helpful in buying and selling dairy cows and farm work 
horses, and in taking inventories. No attempt has been made to 
compare breeds. In fact, it is believed that none of the figures can 
be interpreted in such a way as to favor any particular breed. 
INFLUENCE OF AGE ON VALUE OF COWS. 
HOLSTEIN. 
Table I shows the influence of age on the value of four classes of 
Holstein cows worth per head $80, $100, $200, and $300, respec- 
tively, at 3 years of age. (See fig. 1.) For each class the esti- 
mates are tabulated separately for the North Central States, the 
Northeastern States, and the United States, all sections. Accord- 
ing to these estimates Holstein cows of all classes reach their maxi- 
mum money value at 6 years of age. The values do not vary 
; 
G3 
+ 
moe nk bt 
3 
f 
