Relative dollar values are a function
of the relative feeding values. They are harder to compute because feedstuffs
differ in their weight per bushel (Table 2 ).
Table 2.- Weight/Bu of Some Concentrate (Energy) Feeds
Feedstuff |
Lb/bu |
Shelled corn |
56 |
Milo |
60 |
Barley |
48 |
Oats |
32 |
Wheat |
60 |
Ear corn |
70 |
Computation of the relative dollar value/bu for any grain, compared
with corn, can be calculated with the following formulas ( using oats as
an example ):
lb of oats/bu x value of shelled corn/bu
------------------------------------------------------ = equivalent
value/bu
lb of shelled corn/bu
which is
32 lb/bu x $4.00/bu
-------------------------- = $2.29/bu
56 lb/bu
Then:
equivalent value/bu x relative feeding value ( % ) = relative dollar
value
which is
$2.29/bu x 80% for oats = $1.83/bu
This illustration says: If corn costs $4/bu, the same performance can
be expected when sheep are fed oats worth $1.83/bu, even though 1.25 lb
of oats must be fed for each pound of shelled corn.
Several concentrate sources ( milo,
ground ear corn and wet molasses ) are sold by the pound rather than the
bushel. To compare these sources with those sold by the bushel, make the
following calculations (using milo as an example):
value of shelled corn/bu x 100
------------------------------------------ = value/100 lb of shelled
corn
lb of shelled corn/bu
which is
$4.00/bu x 100
-------------------- = $7.14/100 lb of shelled corn
56 lb/bu
Then:
value/100 lb of shelled corn x relative feeding value of milo (%) =
equivalent value/100 lb of milo
which is
$7.14/100 lb of shelled corn x 95% for milo = $6.78/100 lb of milo
This illustration says: If corn costs
$4/bu, the same performance can be expected when sheep are fed milo worth
$6.78/100 lb even though 1.05 lb of milo must be fed for each pound of
shelled corn.
These formulas were used to calculate
the relative dollar values of different concentrate feedstuffs when the
value of shelled corn ranges from $2 to $4/bu (Table 3).
To read this table: Determine the value
of shelled corn per bushel, then read down that column. Any time the alternative
concentrate has a value less than that of shelled corn, the alternative
source is the most economical buy.
Example 1 -- if shelled corn
costs $3/bu and you can buy barley for less than $2.31/bu, barley is the
most economical buy.
Table 3. --Relative Dollar Values of Concentrates for Sheep
Relative value ($/bu.)a |
Shelled corn ($/bu)
|
2.00
|
2.50
|
3.00
|
3.50
|
4.00
|
Barley |
$1.54
|
$1.93
|
$2.31
|
$2.70
|
$3.09
|
Oats |
0.91
|
1.14
|
1.37
|
1.60
|
1.83
|
Wheatb |
2.25
|
2.81
|
3.38
|
3.94
|
4.50
|
Ear cornc |
1.92
|
2.46
|
3.02
|
3.57
|
4.12
|
Relative value ($/100 lb)a |
Milo |
$3.39
|
$4.24
|
$5.09
|
$5.94
|
$6.78
|
Ground ear cornd |
3.14
|
3.92
|
4.71
|
5.49
|
6.28
|
Liquid molassese |
2.50
|
3.12
|
3.75
|
4.37
|
5.00
|
aCalculations have been adjusted for differences in weight/bu
and relative feeding values.
bWhen fed at not more than 50% of the total ration grain.
cUnground.
dIncludes cost of grinding pins mixing with 5% liquid
molasses.
eWhen fed at not more than 10% of the total ration.
Example 2 -- if shelled corn costs $3/bu and ear corn can be
purchased and processed for less than $4.71/100 lb, ear corn is the most
economical buy.
Although ear corn is a common and excellent
source of energy for sheep, it differs from the other common energy sources
because it must be ground and mixed with molasses to have a relative feeding
value of 88% (Table 1 ). Whole ear com is marketed by the bushel, but after
grinding and mixing with molasses it is marketed on a per 100 lb basis.
Therefore, both whole (unprocessed) and processed (ground plus 5% molasses
) values are presented in Table 3.
To determine the total processing cost
of ear corn, refer to Table 4. Use this table in the following way: if
liquid molasses costs 5¢/1b and the cost of grinding ear corn is 20¢/100
lb, the total cost for processing each bushel of ear corn is $0.32.
Table 4. --Cost of Processing Ear Corn ($/Bu)a
¢/100 lb. |
Liquid molasses (¢/lb)
|
3
|
4
|
5
|
6
|
7
|
20 |
$0.25
|
$0.28
|
$0.32
|
$0.35
|
$0.39
|
25 |
.28
|
.32
|
.35
|
.39
|
.42
|
30 |
.32
|
.35
|
.39
|
.42
|
.46
|
35 |
.35
|
.39
|
.42
|
.46
|
.49
|
40 |
.40
|
.42
|
.46
|
.49
|
.53
|
45 |
.45
|
.46
|
.49
|
.53
|
.56
|
50 |
.50
|
.49
|
.53
|
.56
|
.60
|
aProcessing cost includes grinding plus mixing 5 lb of liquid
molasses per 95 lb of ground ear corn.
Once the cost of processing ($/bu) and
the price of whole ear corn ($/bu) are determined, these two values added
together equal the total cost of ground ear corn per bushel. Then, this
value can be compared with shelled corn (Table 5). To use Table 5, read
down the shelled corn column until you find the current price. Then, read
across to find the maximum price that can be paid for processed ground
ear corn. For example, assume the price of shelled corn is $3/bu. The maximum
price that can be paid for ground ear corn is $3.30/bu. If molasses is
5¢/1b and grinding costs 25¢/100 lb, the total processing cost
is 35¢/bu (Table 4). If whole ear corn costs $2.86/bu, then the total
cost of processed ground ear corn is $2.86 + $0.35 = $3.21/bu. Since $3.21
is less than $3.30, ground ear corn is the most economical buy, even though
1.14 lb must be fed to obtain performance equal to that obtained from 1.0
lb of shelled corn.
Table 5. --Relative Dollar Value Of Shelled Corn and Ground Ear Corn
for Sheep
If shelled corn is ($/bu) |
Ground ear corn must be less than ($/bu)a |
1.80 |
1.98 |
2.00 |
2.20 |
2.20 |
2.42 |
2.40 |
2.64 |
2.60 |
2.86 |
2.80 |
3.08 |
3.00 |
3.30 |
3.20 |
3.52 |
3.40 |
3.74 |
3.60 |
3.96 |
3.80 |
4.18 |
4.00 |
4.40 |
4.20 |
4.62 |
4.40 |
4.84 |
aTotal value= whole ear corn ($/bu ) plus processing cost
($/bu ).
Relative Values of Common Roughages Fed for Energy
Under practical conditions, the amounts
of concentrates and roughages need to be adjusted to provide required energy
for maximum economic efficiency. As is the case with concentrates, not
all sheep producers feed the same roughages. These roughages differ in
relative feeding values and price.
The relative feeding values (for energy)
of roughages are compared with shelled corn in Table 6. Corn silage has
a low comparative feeding value because it contains about 60% water and
only about 40% dry matter, whereas shelled corn usually contains only 10%
water and 90% dry matter. When corn silage is compared with shelled corn,
on an equal dry matter basis, its relative feeding value is increased to
83%.
Table 6. --Relative Feeding Values of Some Common Roughages Fed to
Sheep for Energy (Lb for Lb)
Energy source |
Relative feeding value, %a |
Lb required to provide energy equal to 1 lb of corn |
Shelled corn |
100 |
- |
Corn silageb |
37 |
2.67 |
Alfalfa hay |
58 |
1.75 |
Clover hay |
55 |
1.81 |
Orchardgrass hay |
54 |
1.85 |
Fescue hay |
38 |
2.63 |
Timothy hay |
28 |
3.57 |
Bluegrass hay |
26 |
3.85 |
Grass-legume hay |
56 |
1.79 |
aAll sources compared with shelled corn with a value of 100.
b40% dry matter corn silage.
When compared with shelled corn, roughages
contain much more fiber and much less starch. Alfalfa, clover and other
legume hays should be fed primarily to provide protein. Therefore, when
compared with shelled corn they have relatively low feeding values as suppliers
of energy. Grass hays are relatively poor sources of both protein and energy
for sheep, particularly if they are harvested after the vegetative maturity
stage.
The relative dollar values (per ton
basis ) of the roughages in Table 6 can be compared with shelled corn by
using the following procedure ( orchardgrass hay as an example ):
value of shelled corn/bu x 100
---------------------------------------- = value/100 lb of shelled
corn
lb of shelled corn/bu.
which is
$3.00/bu x 100
-------------------- = $5.36/100 lb of shelled corn
56 lb/bu
Then:
value/100 lb of shelled corn x relative feeding value of orchardgrass
hay (%) = equivalent value/100 lb of orchardgrass hay
equivalent value/100 lb of orchardgrass hay x 20 = equivalent value/ton
which is
$5.36/100 lb of shelled corn x 54% for orchardgrass hay = $2.89/100
lb x 20 = $57.89/ton of orchardgrass hay
Table 7 shows the equivalent values
of roughages (per ton) when shelled corn costs from $2 to $4/bu. To read
Table 7, find the price of-shelled corn. Then, read down the column to
find the equivalent value of the roughage in question. If that roughage
can be purchased for less than the value shown, it is a more economical
buy than shelled corn at its respective price per bushel. For example,
if shelled corn sells for $2.50/bu and orchardgrass hay can be bought for
less than $48.17/ton, the hay is the most economical buy even though 1.85
lb of the hay must be fed for each 1 lb of shelled corn to obtain equal
performance.
Table 7. --Comparison of the Relative Dollar Values of Shelled Corn
($/bu) and Some Roughages ($/ton) Fed to Sheep for Energy
Relative value ($/ton) |
Shelled corn ($/bu)
|
2.00
|
2.50
|
3.00
|
3.50
|
4.00
|
Corn silagea |
$26.40
|
$33.00
|
$39.66
|
$46.25
|
$52.84
|
Alfalfa hay |
41.41
|
51.74
|
62.18
|
72.50
|
82.82
|
Clover hay |
39.27
|
49.06
|
58.96
|
68.75
|
78.54
|
Grass-legume hay |
39.98
|
49.95
|
60.03
|
70.00
|
79.97
|
Orchardgrass hay |
38.56
|
48.17
|
57.89
|
67.50
|
77.11
|
Fescue hay |
27.13
|
33.90
|
40.74
|
47.50
|
54.26
|
Timothy hay |
19.99
|
24.98
|
30.02
|
35.00
|
39.98
|
Bluegrass hay |
18.56
|
23.19
|
27.87
|
32.24
|
37.13
|
a40% dry matter silage.
The roughages in Tables 6 and 7 will
seldom be an economical replacement for shelled corn (or other concentrates)
energy in sheep rations for two reasons.
First, the roughages contain more fiber
than concentrates. This fiber is not used for energetic purposes (growth,
milk production and wool production ) as efficiently as the starch of concentrates.
Second, the legumes should be fed as
a protein, not energy source. However, always remember each productive
purpose of the sheep requires a different amount of ration concentrate
and roughage for optimum efficiency.
Relative Feeding Values of Some Protein Supplements
Table 8 shows the relative feeding
and dollar values of some protein supplements fed to sheep. Soybean meal
is given a value of 100. The values (dollars/ton) for linseed meal, cottonseed
meal and alfalfa hay were derived by multiplying the cumulative feeding
values ( 90, 100 and 36 ) by the respective soybean meal price (dollars/ton).
For example, if soybean meal sells for $200/ton, alfalfa hay must cost
less than $72/ton to be an economical purchase.
Table 8. --Relative Dollar Values of Some Protein Feeds for Sheep
($/Ton)
Source |
Relative feeding value, % |
Shelled corn ($/bu)
|
150 |
175 |
200 |
225 |
250 |
275 |
300 |
Soybean meal (44%)a |
100 |
|
|
|
|
|
|
|
Linseed meal (43%) |
90 |
$135
|
$158
|
$180
|
$203
|
$225
|
$248
|
$270
|
Cottonseed meal (43%) |
100 |
150
|
175
|
200
|
225
|
250
|
275
|
300
|
Alfalfa hay (16%) |
36 |
54
|
63
|
72
|
81
|
90
|
99
|
108
|
aValues in parentheses indicate crude protein content.
Summary
Specific feeds should be fed to sheep
to provide specific nutrients, i.e. energy and protein. Although alternative
feedstuffs can provide these nutrients, they can vary in weight per bushel,
relative feeding value and relative price. All these factors must be considered
together when determining which feeds will produce greatest profits. Only
when the cheapest feeds produce the desired performance will maximum economic
efficiency be attained.