CALF FEEDING IN ALABAMA AND MISSISSIPPI. 11 
FINANCIAL STATEMENT. 
The majority of these calves were raised on the farm on which 
they were fattened. A few, however, were purchased from neigh- 
boring farmers; those purchased cost 4 cents a pound, and as they 
very accurately represented an average of the whole number, the 
initial or fall value of all was placed at 4 cents a pound on the farm 
without shrinkage. When they were ready to be marketed buyers 
visited the farm and made bids. They were sold to a buyer of 
Meridian^ Miss., for 5J cents a pound on the farm, after a 3 per cent 
deduction on farm weights. The buyer, therefore paid all expenses 
of shipping. 
The following statements show the complete financial record : 
Table 5. — Financial statement. 
Lot 1. Cottonseed meal, cottonseed hulls, mixed alfalfa hay : 
To 16 calves — 6,010 pounds, at 4 cents a pound $240. 40 
To 4,466 pounds of cottonseed meal, at $26 a ton 58. 06 
To 17,568 pounds of cottonseed hulls, at $7 a ton 61. 49 
To 7,380 pounds of mixed alfalfa hay, at $14 a ton 51. 66 
Total expenditures 411. 61 
By sale of 16 calves — 9,336 pounds, at 51 cents a pound 498. 07 
Total profit on lot 86.46 
Average profit on each calf 5. 40 
Lot 2. Cottonseed meal two-thirds, corn-and-cob meal one-third, cotton- 
seed hulls, mixed alfalfa hay : 
To 15 calves — 5,623 pounds, at 4 cents a pound 224. 92 
To 3,220 pounds of cottonseed meal, at $26 a ton 41. 86 
To 1,610 pounds of corn-and-cob meal, at $20 a ton 16. 10 
To 15,872 pounds of cottonseed hulls, at $7 a ton 55. 55 
To 6,677 pounds of mixed alfalfa hay, at $14 a ton 46. 74 
Total expenditures 385. 17 
By sale of 15 calves — 8,430 pounds, at 5£ cents a pound 449. 74 
Total profit on lot 64. 57 
Average profit on each calf 4. 30 
Lot. 3. Cottonseed meal one-third, corn-and-cob meal two-thirds, cotton- 
seed hulls, mixed alfalfa hay : 
To 16 calves — 6,010 pounds, at 4 cents a pound 240. 40 
To 2,083 pounds of cottonseed meal, at $26 a ton 27. 08 
To 4,166 pounds of corn-and-cob meal, at $20 a ton 41. 66 
To 16,370 pounds of cottonseed hulls, at $7 a ton 57. 30 
To 6,932 pounds of mixed alfalfa hay, at $14 a ton 48. 52 
Total expenditures 414. 96 
By sale of 16 calves — 8,730 pounds, at 5£ cents a pound 480. 15 
Total profit on lot— 65.19 
Average profit on each calf „ 4. 07 
