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 Title Page
 Table of Contents
 List of Tables
 List of Figures
 Main
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 Appendix
 Back Cover














Group Title: Circular Florida Cooperative Extension Service
Title: Wintering open cows in Florida with expectations of profits from seasonal price changes
CITATION THUMBNAILS PAGE IMAGE ZOOMABLE
Full Citation
STANDARD VIEW MARC VIEW
Permanent Link: http://ufdc.ufl.edu/UF00091347/00001
 Material Information
Title: Wintering open cows in Florida with expectations of profits from seasonal price changes
Series Title: Circular Florida Cooperative Extension Service
Physical Description: 17 p. : ill. ; 28 cm.
Language: English
Creator: Simpson, James R
Publisher: Florida Cooperative Extension Service, Institute of Food and Agricultural Sciences, University of Florida
Place of Publication: Gainesville
Publication Date: 1981
 Subjects
Subject: Cattle -- Feeding and feeds -- Economic aspects -- Florida   ( lcsh )
Cattle -- Prices -- Florida   ( lcsh )
Genre: government publication (state, provincial, terriorial, dependent)   ( marcgt )
bibliography   ( marcgt )
non-fiction   ( marcgt )
 Notes
Bibliography: Bibliography: p. 15.
Statement of Responsibility: by James R. Simpson.
 Record Information
Bibliographic ID: UF00091347
Volume ID: VID00001
Source Institution: University of Florida
Holding Location: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 08966275

Table of Contents
    Front Cover
        Front Cover
    Title Page
        Title Page
    Table of Contents
        Page i
    List of Tables
        Page ii
    List of Figures
        Page iii
    Main
        Page 1
        Page 2
        Page 3
        Page 4
        Page 5
        Page 6
        Page 7
        Page 8
        Page 9
        Page 10
        Page 11
        Page 12
        Page 13
        Page 14
    Reference
        Page 15
    Appendix
        Page 16
        Page 17
    Back Cover
        Page 18
Full Text

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WINTERING OPEN COWS IN FLORIDA WITH EXPECTATIONS

OF PROFITS FROM SEASONAL PRICE CHANGES


by

James R. Simpson








TABLE OF CONTENTS


Page


List of Tables . . . . . . . . .. . ... . .ii

List of Figures. . . . . . . . . ... ... . .. iii


Seasonal Price Changes . . . . . . . . ... . . 1


Budgets--South Florida . . . . . . . . ... . .. 1


Alternative I--October-April . . . . . . . . . 3


Alternative II--January-April. . . . . . . . . 7


Budgets--North Florida . . . . . . . . ... . .. 7


Alternative I--October-April . . . . . . . . . 7


Alternative II--January-April. . . . . . . . . 7


Discussion . . . . . . . . .. . . . . . 13


References . . . . . . . . . . . . . . 15


Appendix . . . . . . . .... . . . . . . 16








LIST OF TABLES


Table Page

1 Management program for wintering open cows in South Florida,
Alternative I, October-April . . . . ... . .. 4

2 Cash expenses per cow for wintering open cows in South
Florida, Alternative I, October-April. . . . . . 5

3 Total income and net income per cow for open cows wintered
in South Florida, Alternative I, October-April . . . 6

4 Cash expenses per cow for open cows wintered in South
Florida, Alternative II, January-April . . . . . 8

5 Total income and net income per cow for cows wintered in
South Florida, Alternative II, January-April . . . . 9

6 Management program for wintering open cows in North Florida
Alternative I and II, October-April and January-April. . 10

7 Cash expenses per cow for wintering open cows in North
Florida, Alternative I and II, October-April and
January-April. . . . . . . . . . . 11

8 Total income and net income per cow for open cows wintered
in North Florida, Alternative I and II, October-April
and January-April. . . . . . . .. . .... 12

9 Summary of net income per cow for cows wintered in South
and North Florida, under various systems, example
situation. . . . . . . . . . . . . 14


A-1 Average monthly prices of Utility and Cutter grade slaughter
cows, and all slaughter cows sold through Florida auctions,
1971-80 . . . . . . . . . . . . .. 16

A-2 Index of deflated average monthly prices of Utility and
Cutter grade slaughter cows sold through Florida auctions,
1971-80 . . . . . . . . . . . . .. 17






LIST OF FIGURES


Page


Figure


1 Seasonality of Utility grade Florida slaughter cow prices,
index basis, average 1971-80 . . . . . . .








WINTERING OPEN COWS IN FLORIDA WITH EXPECTATIONS


OF PROFITS FROM SEASONAL PRICE CHANGES

James R. Simpson-/


Florida is important as a cattle producing area. For example, on
January 1, 1981, Florida ranked 15th in the United States in total numbers
of cattle and calves, and 9th in beef cows. Since most Florida beef cattle
are in cow-calf enterprises, cull breeding animals are an important cate-
gory of sales and revenues. This report provides an economic analysis of
the profitability from feeding cull or open cows out through the winter
with the expectation of a profit from seasonal price increases and weight
gain.
Seasonal Price Changes

A complete description of seasonal price movements in Florida cows
is found in Extension Bulletin 194, Seasonality of Florida Cow Marketings
and Prices [1]. Monthly prices of Utility and Cutter grade slaughter
cows, as well as slaughter cows from 1971-80 are given in the Appendix,
(Table A-1). The prices have been deflated to eliminate long-term trend
effects, and the results placed on an index basis (Table A-2). A graph
of the indices is shown in Figure 1. Results of analyzing price movements
show that the average index for April is 108, which means that April prices
of Utility grade cows over the period 1971-80 averaged about 8 percent
above the annual average. October, on the other hand, has an index of
94 which means that the average price of Utility grade slaughter cows in
October during the 1971-80 period was 6 percent below the annual average.

Seasonally, Utility cow prices increase about 14 percent from
October to April. Cutter cow prices follow a similar pattern. The sea-
sonal increase leads to speculation that it might be profitable to hold
or purchase open cows over the winter to take advantage of this seasonal
price movement. In the next two sections budgets are presented which
provide the method for evaluating the economic potential of this practice.
South Florida and North Florida are treated separately because of their
different agronomic and feeding programs.
Budgets--South Florida

Budgets for determining the economic potential from overwintering
open cows in South Florida are presented in this section. Two alterna-
tives are presented, one in which cows are held from October 15 to April
15 (180 days), and one in which they are held from January 15 to April 15
(90 days). The example data are realistic of costs and prices in the
late 1970s and early 1980s. Space is provided in each budget for operators
to compare their own production methods, costs and prices.



I/Associate Professor and Extension Livestock Marketing Economist,
Food and Resource Economics Department, University of Florida.













110




105




100




95




90'




85-


S F M A M J J A S


('Month)


Figure 1.


Seasonality of Utility grade Florida slaughter cow prices,
index basis, average 1971-80.





(3)


Alternative I--October-April

Budgets for overwintering open cows in South Florida from October
to April are presented in Table 1. Three different systems are proposed:
native range (which can be considered a low cost approach), fertilized
pangola, and a combination of native range plus ryegrass. In all situa-
tions it is assumed that the operator begins with Cutter grade cows that
are thin, healthy, and have sufficiently good teeth that they are able
to consume adequate amounts of forage. Also, it is assumed that the
feeding period is 180 days for each of the systems (October-April), that
the cows are only fed supplement for 120 of the 180 days, and the animals
have an initial weight of 750 pounds. A one percent death loss is assumed
for all systems (Table 1).

Cows on the native range are assumed to have an average daily gain
of 0.60 Ibs. and consume 15 Ibs. of hay for 120 of the 180 days. They
are also assumed to be fed 3 Ibs. per day of 16% fortified molasses.

Cattle on fertilized pangola grass are assumed to gain 1.25 Ibs.
per day. Carrying capacity is 1 cow per 2 acres, with 4 Ibs. per day of
non-fortified molasses fed over the 120 day supplement period. Cows on
the fertilized ryegrass are assumed to gain 2 Ibs. per day for the last
120 days, and 0.17 Ibs. per day for the first 60 days. They are fed
5 Ibs. per day of hay for 120 days. Carrying capacity is one cow per
acre on the ryegrass, which is assumed to be irrigated.

Assumptions about expenses for each of the three systems are given
in Table 2 along with the unit costs. All figures are representative of
the late 1970s or early 1980s. Cash expenses vary from $125.36 per cow
for the native range to $136.20 for pangola and $162.50 for the ryegrass
system.

If cows are purchased, interest must be paid on any borrowed money.
If personal capital is used, or if an operator's own cows are involved,
an opportunity cost for the interest foregone, or the return which could
be made from an alternative investment, must be charged. Assuming this
to be 12 percent on an annual basis, there would be a charge of $18 per
cow. Adding this cost to other expenses yields a total of $143.36,
$154.20 and $180.50 per cow for the native range, pangola and ryegrass
systems, respectively.

Total income, and income per cow, are presented in Table 3 under the
assumptions that the cows have a value of $0.40 per lb. in October, there
is a $5.00 price differential between Cutter and Utility, and Utility
cows sell for $0.53 per lb. and Cutter cows at $0.48 in April. It is
further assumed there is a 50-50 Utility-Cutter grade mix at selling time
from cows wintered on native range, that the mix is 80-20 on pangola grass
and 90-10 on ryegrass. The weighted average prices for the three systems
would be $0.51, $0.52 and $0.53 for the three systems, respectively.

Total income per cow would be $438.00, $507.00 and $530.00 for the
three systems. The additional income, after the initial purchase price
of the cow is subtracted, would be $138.00, $207.00 and $230.00. Sub-
tracting expenses leaves a loss of $5.36 per cow on the native range
system, and a profit of $52.80 on pangola and $49.50 on the ryegrass-
native range combination.





Table 1 Management program for wintering open cows in South Florida, Alternative I, October-April


Type of system, South Florida
Item Native range Pangola Native + ryegrass Yours


Cattle
Feeding period
Supplement feeding

Initial weight

Average daily gain



Total gain
Feed
Hay


Supplement, dry
Supplement, wet


Pasture
Carrying capacity
Death loss
Labor


-----------------------------Per cow-----------------------
Cutter grade Cutter grade Cutter grade
180 days 180 days 180 days
120 days 120 days 120 days

750 Ibs, 750 Ibs. 750 Ibs.

0.60 Ibs. 1.25 Ibs. 2.00 Ibs/day for
120 days
0.17 lbs/day for
60 days
108 Ibs. 225 Ibs. 250 Ibs.


15 Ibs/day
for 120 days
= 1,800 Ibs.


3 Ibs/day of
16% fortified
molasses = 360 Ibs.
Residual or excess
1 cow/15 acres
1%
2 hours


4 Ibs/day of
nonfortified
molasses = 480 Ibs.
Fertilized pangola
1 cow/2 acres
1%
3 hours


5 Ibs/day
for 120 days
= 600 Ibs.





Fertilized rye
1 cow/acre
1%
3 hours






Table 2 Cash expenses per cow forwintering open cows in South Florida, Alternative I, October-April


Type of system, South Florida
Native Native +
Item Unit cost range Pangola ryegrass Yours
----------------------Dollars--------------

Feed
Hay $75/ton 68.00 22.50
Supplement, dry $210/ton
Supplement, wet $130/ton st. run. 27.36 31.20
or $152 fortified
Pasture Fertilizer at 500# of 16-8-16 $110/acre
$150/ton per acre 37.50/acre = 110.00/cow-
x 2 = $75.00
Otherb/ 30.00 30.00 30.00

Subtotal 125.36 136.20 162.50

Interest or 12% at $0.40/1b. 18.00 18.00 18.00
opportunity on 750 lb. cows
cost on or $300 x 0.06
cattle

Total 143.36 154.20 180.50


a/Includes establishment costs and fertilizer
b/Includes $4.00 death loss, $5.00 health, $10.00 labor, $11.00 minerals and other such as marketing cost




Table 3 Total income and net income per
Alternative I, October-April


cow for open cows wintered in South Florida,


Type of system, South Florida
Native Native +
Item Units range Pangola ryegrass Yours


Buying
Grade
Price (value)
Total cost
Price difference,
Cutter-Utility
Selling price
Utility grade
Cutter grade
Price Increase
Cutter to Utility
Cutter to Cutter
Mix
Utility grade
Cutter grade
Weighted average price
Weight at sale
Total
Income, additional
Expenses

Net


($/lb.)
($)
($)


($)
($)


(%)
(%)
($/lb.
(Ibs.
($)
($)
($)

($)


Cutter
0.40
300
5.00


0.53
0.48

0.13
0.08

50
50
0.51
858
438.00
138.00
143.36

-5.36


Cutter
0.40
300
5.00


0.53
0.48

0.13
0.08

80
20
0.52
975
507.00
207.00
154.20

52.80


Cutter
0.40
300
5.00


0.53
0.48

0.13
0.08


90
10
0.53
1,000
530.00
230.00
180.50

49.50





(7)


Alternative II--January-April

The management system for Alternative II, carrying cows from January
to April, is the same as described in Alternative I, except that cows are
fed supplement during the entire feeding period which amounts to 120 days
rather than 180 days.

Cash expenses are given in Table 4. Expenses other than interest
amount to $99.52, $126.40 and $154.88 for the three systems, respectively.
Adding in interest or an opportunity cost of $9.45 per head brings the
total to $108.97, $135.85 and $164.33.

Total income per head is $410.00, $456.00 and $493.00, while additional
income is $95.00, $141.00 and $178.00 (Table 5). Subtracting out expenses
leaves a loss of $13.97 on the low expense native range operation, a profit
of $5.15 on the pangola system and a profit of $13.67 on the native-ryegrass
combination.
Budgets--North Florida

Budgets for North Florida are presented for the two alternatives;
October-April, and January-April. However, only one system, non-fertilized
bahia or bermudagrass plus ryegrass and supplements is considered.

Alternative I--October-April

Cutter grade cows are assumed to be either purchased or enter the
feeding phase from the owner's cow herd about October 15 weighing 750 Ibs.
They are kept on non-fertilized bahia or bermudagrass from October through
December 15 at which time they are placed on fertilized ryegrass. No
gain is likely in the fall months even though hay and range cubes are fed
as needed. The carrying capacity is one cow per acre (Table 6).
The second phase, from December 15-April 15 is aimed at putting weight
on the cows. A "put-and-take" system of leaving them on ryegrass for
about four hours with a carrying capacity of two cows per acre of ryegrass
is assumed. The rest of the time they would be on bermuda or bahia pas-
tures. A total of 1,500 Ibs. of hay and 75 Ibs. of range cubes are con-
tinued to be fed as needed for the entire 120 days. In addition, it is
assumed that-600 Ibs. of corn are fed at the rate of 5 Ibs. per day for
the last 120 days.

Cash expenses per cow are given in Table 7. Total cash expenses
amount to $175.38 while interest on opportunity cost adds another $18.00
for a total of $193.38.

Total income per cow is $508.80, while net income is $208.80. There
is a net income of $15.42 per cow (Table 8).

Alternative II--January-April

Alternative II is the same as Alternative I, except that the feeding
period is shorter, 120 rather than 180 days. Only 450 Ibs. of corn is
fed so that cost per cow is reduced from $43.50 to $32.63. Other expenses
such as minerals, health and interest charges are also reduced so total





Table 4 Cash expenses per cow for open cows wintered in South Florida, Alternative II, January-April

Type of system, South Florida
Native Native +
Item Unit cost range Pangola ryegrass Yours
----------------------Dollars---------------------


Feed
Hay
Supplement, dry
Supplement, wet
Pasture


$75/ton
$210/ton
$130 and $152/ton
Fertilizer at
$150/ton


Other

Subtotal


Interest or
opportunity cost


12% for 90 days on
$0.42/1b. on 750 lb.
cows or $315 x 0.03


Total


a/Includes establishment costs and fertilizer.


16.88


51.00

20.52


28.00

99.52

9.45


108.97


23.40
75.00

28.00

126.40

9.45



135.85


110.00/

28.00

154.88

9.45



164.33


-




Table 5 Total income and net income per
II, January-April


cow for cows winter l6'rid', Alter~atiVej


Type of system, South Florida
Native Native +
Item Units range Pangola ryegrass Yours


Buying
Grade
Price
Total cost
Price difference,
Cutter-Utility
Selling price
Utility grade
Cutter grade
Price increase
Cutter to Utility
Cutter to Cutter
Mix
Utility grade
Cutter grade
Weighted average price
Weight at sale
Total income
Income, additional
Expenses


Cutter
($/lb.)
($)
($)


($)
($)


(%)
(%)
($/lb.)
(Ibs.)
($)
($)


Net


Cutter
0.42
315
5.00


0.53
0.48


0.11
0.06


50
50
0.51
804
410.00
95.00
108.97

-13.97


Cutter
0.42
315
5.00


0.53
0.48


0.11
0.06


80
20
0.52
876
456.00
141.00
135.85

5.15


Cutter
0.42
315
5.00


0.53
0.48


0.11
0.06


90
10
0.53
930
493.00
178.00
164.33

13.67








Table 6 Management program for wintering open cows in North Florida, Alternative I and II, October-April and January-April

Alternative I, October 15-April 15 Alternative II, January 15-April 15
Item Bahia + ryegrass Yours Bahia + ryegrass Yours


Type of cattle purchased
Length of feeding period
Length of supplement
feeding
Initial weight
Average daily gain


Total gain
Feed
Hay

Range cubes (30%)
Corn

Other
Pasture

Carrying capacity


Death loss
Labor


Cutter grade
180 days
120 days

750 Ibs.
Oct. 15-Dec. 15, no gain
Dec. 15-Apr. 15,
1.75 Ibs/day
210 Ibs.

1,500 Ibs., fed
as needed
75 Ibs. total
5 Ibs. per day
= 600 Ibs. total

Put-and-take, 4 hours
per day on ryegrass
2 cows/acre of ryegrass
and 1 cow per acre of
bahia or bermuda
1%
3 hours


Cutter grade
90 days
90 days

750 Ibs.
1.75 lbs/day


158 Ibs.


None


None
5 Ibs. per day
= 450 Ibs. total

Put-and-take, 4 hours
per day on ryegrass
2 cows/acre of ryegrass
and 1 cow per acre of
bahia or bermuda
1%
3 hours


--




Table 7 Cash expenses per cow for wintering open cows in North Florida, Alternative I and II,.
October-April and January-April

October 15-April 15 January 15-April 15
Bahia + Bahia +
Item Unit cost ryegrass Yours ryegrass Yours
-------------------------------------Dollars----------- --------------------

Hay $50 per ton 37.50
Supplement
Range cubes $250 per ton 9.38 -
Corn $0.0725 per lb. 43.50 32.63
Pasture/ $110.00 per acre 55.00 55.00
Otherb/ 30.00 27.00

Subtotal 175.38 114.63

Interest or 12% at $0.40/1b.
opportunity for October-April;
cost on 12% at $0.42/1b.
cattle for Jan.-April 18.00 9.45

Total 193.38 124.08


A/Includes establishment costs and fertilizer, 2 cows per acre. Bahia or bermuda is assumed to be a
residual.
-/Includes $4.00 death loss, $5.00 health, $10.00 labor, $11.00 minerals, marketing costs, misc. for
Oct.-April. Assumed to be $3.00 less for January-April.








Table 8 Total income and net income per cow for open cows wintered in North Florida, Alternative
I and II, October-April and January-April

October 15-April 15 January 15-April 15
Bahia + Bahia +
Item Units ryegrass Yours ryegrass Yours


Buying
Grade
Price
Total Cost
Price Difference
Cutter Utility
Selling Price
Utility Grade
Cutter Grade
Price Increase
Cutter To Utility
Cutter To Cutter
Mix
Utility Grade
Cutter Grade
Weighted Average
WeicAtted Averaae Price
Total Income
Income Additional
Expenses
Net


($1b.)
($)

($)

($)
($)

($)
($)

(%)
(%)
($/lb.)
(Ibs.)
($)
($)


Cutter
0.42
315


Cutter
0.40
300

5.00

0.53
0.48

0.13
0.08

90
10
0.53
960
508.80
208.80
193.38
15.42


5.00

0.53
0.48

0.13
0.08


90
10
0.53
908
481.24
166.24
124.08
42.16




(13)


expenses are only $124.08 versus $193.38 under the longer term alternative.

The price per pound of the cows is higher in January than October,
$0.42 versus $0.40, so the initial value of the cows is higher. Subtracting
this cost from the total income of $481.24 from cows weighing 908 Ibs. and
sold at $0.53 per Ib. yields an additional income of $166.24. Expenses
are $124.08 so the net is $42.16 per cow.

Discussion

An analysis of Florida cow prices indicates definite seasonal move-
ments, with prices in the April-May period an average of 15 percent above
October. These traditional price increases led to speculation that a
profit can be made from wintering stocker cows. This circular provides
the format which Florida cattlemen can use in estimating their profit-
ability from this increase.

The method for evaluating the profitability of overwintering stocker
cows in Florida was examined by considering three different systems for
South Florida while only one was presented for North Florida. Two feeding
periods October-April (Alternative I) and January-April (Alternative II)
were considered. All budgets were presented for easy comparison.

The budgets and management system are derived from a compendium of
practices found throughout Florida. But, because of the diversity of
practices in Florida, the budgets cannot be considered "typical" or
"average." Ranchers considering overwintering cull cows are encouraged
to use the spaces provided in the budgets to evaluate their own situations.

Data presented in the budgets indicate that of the three South Florida
systems the native range system has little promise, while the other two,
fertilized pangola, or native range plus ryegrass, do have potential.
The net returns per head for the typical period analyzed would have been
$-5.83, $52.80 and $49.50 for the three systems respectively for the
October-April period, and $-13.97, $5.15 and $13.67 for the January-April
period (Table 9). The conclusion is that even though the cost and price
data will change from year-to-year, if seasonal price changes occur as
they have in the past, then it appears South Florida cattlemen have a
much better prospect of making a profit from cows carried from October
rather than January.

The situation for North Florida is just the opposite of South Florida.
The shorter feeding period provides more opportunity for profits because
much more purchased inputs are required. Sample data used in the budgets
indicate a net return of $15.42 per cow for the October-April period, and
$42.16 for January-April showing the desirability of a shorter feeding
period.

Overall, an examination of past seasonal price trends coupled with
budgets of several overwintering systems indicates that finishing open
cows out on pasture and supplement can provide opportunities for profits.
Care must be taken in selection of healthy, thin cows, and a reasonably
good forecast of prices.




(14)


Table 9.--Summary of net income per cow for cows wintered in South and
North Florida, under various systems, example situation


North
South Florida Florida
Native Native Plus Bahia and
Alternative range Pangola ryegrass ryegrass
--------------4-'De31ars per- head----------------
I, October-April -5.36 52.80 49.52 15.42

II, January-April -13.97 5.15 13.67 42.16




(15)




REFERENCES


Simpson, James R. and Thomas H. Spreen, Seasonality of Florida Cow

Marketings and Prices, Extension Bulletin 194, Florida Cooperative

Extension Service, University of Florida, 1981.










Table A-I--Average monthly prices of Utility and Cutter grade slaughter cows, and all slaughter cows sold through
Florida auctions, 1971-80

Month
Year Jan. Feb. Mar. April May June July Aug. Sept. Oct. Nov. Dec. Avg.
-------------------------------------- Dollars per cwt.-------------- ------------------------------

Utility


1971 22.40
71 24.17
73. 26.59
74 34.28
75 20.33
76 24.96
77 25.04
78 29.47
79 49.81
1980 51.43


1971 19.77
72 21.59
73 25.97
74 30.37
75 16.94
76 20.63
77 22.10
78 26.18
79 44.57
1980 46.67


1971 21.28
72 22.99
73 27.61
74 32.29
75 18.20
76 21.92
77 22.90
78 27.33
79 46.46
1980 49.28

Source: ll,.


23.14 23.66
25.11 25.45
33.85 34.89
35.50 34.14
20.96 20.90
27.37 28.74
26.23 28.27
32.67 35.14
55.27 58.14
53.19 50.75


20.54 20.83
22.33 22.52
29.27 30.83
31.27 30.54
17.38 17.11
23.02 24.53
23.13 25.11
28.16 30.45
49.81 53.44
48.20 45.22


21.90 22.28
23.98 24.25
31.82 33.00
33.66 32.32
18.81 18.58
24.65 26.01
24.19 26.31
30.14 32.57
52.35 55.14
51.60 48.55


23.26
25.18
35.16
31.93
21.81
30.28
28.05
37.93
59.59
49.35


20.42
22.64
31.37
28.26
17.55
25.62
24.82
32.88
55.39
45.17


21.95
24.26
33.21
29.91
19.29
27.31
25.79
35.29
57.34
47.39


23.44
26.53
34.28
30.33
23.45
30.36
27.43
39.42
57.96
45.84


20.68
23.94
30.89
26.46
18.75
25.79
23.74
34.88
53.96
41.86


22.29
25.62
32.21
28.43
20.59
27.28
24.68
36.81
55.78
44.01


23.32 22.81 22.46
26.73 27.35 27.30
34.16 34.89 39.18
27.86 26.46 23.71
22.38 20.91 20.77
28.19 26.01 25.11
26.89 25.88 24.99
37.65 38.79 38.61
54.10 50.84 51.03
44.33 45.68 46.27

Cutter

20.65 20.27 19.53
24.30 24.53 24.31
30.43 31.10 34.53
24.74 23.16 19.73
17.22 15.50 15.62
24.28 22.53 21.71
23.38 22.39 22.04
33.48 34.44 34.52
49.47 46.87 45.85
40.20 41.46 42.72

All Cows

22.02 21.45 20.83
25.87 26.44 26.22
32.07 32.82 36.79
26.06 24.77 21.25
19.39 17.71 17.61
25.72 23.64 22.74
24.59 23.58 22.80
35.22 36.13 35.74
52.25 49.56 49.47
42.69 44.32 44.74


22.52
26.59
34.48
21.95
20.25
23.74
24.76
39.77
51.17
45.14


19.72
23.43
30.51
17.91
15.39
20.24
21.57
35.67
46.41
40.72


20.90
24.61
32.36
19.23
16.68
21.18
22.18
37.30
49.41
42.97


22.76
27.87
34.15
19.78
20.93
23.56
23.93
41.32
50.20
44.42


19.91
24.38
30.11
16.07
16.09
20.12
20.35
36.68
45.50
39.50


21.25
25.78
31.73
17.53
17.34
20.86
21.11
38.62
48.18
41.98


22.90
28.15
33.69
19.56
22.30
23.62
25.06
42.78
50.17
45.18


20.40
24.59
29.60
15.71
17.23
19.48
21.72
37.95
46.16
39.63


21.42
26.02
31.38
17.26
18.34
20.80
22.41
40.06
48.21
41.86


23.29
28.32
32.59
20.78
22.85
24.60
26.89
46.18
52.56
45.18


20.63
24.78
28.30
16.79
18.39
21.17
23.30
40.50
46.68
40.54


22.05
26.04
30.09
18.33
19.36
22.08
22.40
43.49
49.91
42.75


23.04
26.38
34.35
27.51
21.45
26.67
26.18
37.76
53.14
46.40


20.30
23.58
30.29
22.78
16.85
22.45
22.73
33.25
49.10
42.66


21.67
25.11
32.16
24.97
18.42
23.83
23.74
35.11
51.20
45.18




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-This publication promulgated at a cost of $845.00, or 42.2 cents per copy to inform Floridians about
w. *i ng cows. 92M 81




AliVEx eKsIoN sERVICE, UNIVERSITY OP PLORIDA4 INSTITUTE OF FOOD AND AGRICULTURAL
1s. At 'rY:efefl! dirtoett I h coopration with the United States Department of Agriculture, published this tspr.
..r other the pur." d.e tMe May I and June 30. 1914 Acts of Congre.ss'nd Is authorized to provide research, educa- "e
i4 : a*: :: and t:tS:::: oy to individual and Institutions that function without regard torace, color, M or
n 0ml0llinib o I is of eatension publIcations (excludlig 4-H and Youth publications) a- avallebl ee Imto Florida
::, : County :enlho Ofi"e:. l.fonmution on bulk. W:es or copies for out-of-tate purchasers is available from.
'..:it ib.IatiHns iwtributlont Center, IPAS Bu'Iding 664, Unlvrity of Florida, Gainesville, Florida 32611. Bfor luabieting th
u I: edpttrs should contat ts address to dtrmine avalablIty.
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